OpenAI is closing in on a massive $10 billion funding round backed by Abu Dhabi's MGX and a group of prominent global investors, as the company accelerates its push for scale in the artificial intelligence sector.
The round is expected to include major investment firms Coatue Management and Thrive Capital, reflecting strong institutional confidence in the rapidly evolving AI space.
OpenAI valuation could reach $850 billion
If finalised, the deal could push OpenAI's valuation to around $850 billion, positioning it among the most valuable technology companies in the world.
The potential valuation reflects growing confidence in AI as a transformative industry, as well as OpenAI's leading role in developing advanced models like ChatGPT.
Race for computing power and global expansion
The new funding comes as AI companies worldwide compete for critical resources:
- Advanced semiconductor chips - Top engineering and research talent - Large-scale infrastructure for training AI models
As models grow more complex and resource-intensive, the cost of development continues to rise — driving the need for significant capital injections.
Abu Dhabi's MGX backs OpenAI's global ambitions
The involvement of MGX signals the UAE's continued investment in future technologies, particularly artificial intelligence. Abu Dhabi has been actively positioning itself as a global hub for AI innovation, supporting major players and initiatives aligned with its long-term economic diversification goals.
MGX's participation builds on an earlier investment in OpenAI's $6.6 billion Series E round in October 2024, deepening Abu Dhabi's relationship with the world's leading AI lab.
The bigger picture
The funding round underscores a broader trend: AI is becoming one of the most capital-intensive and competitive sectors globally.
With billions flowing into the space, companies are racing not just to innovate, but to secure the resources needed to lead the next wave of technological transformation.
What this means for the AI race
As OpenAI moves closer to this landmark funding round, it signals a new phase in artificial intelligence — where scale, infrastructure, and global partnerships will define the winners. Abu Dhabi's strategic bet on OpenAI places the UAE at the centre of that competition.
