OpenAI Plans UAE-Led Funding Round of Up to $30 Billion

OpenAI plans to sign an agreement by Oct. 30 for a UAE-led funding round that could raise as much as $30 billion, with additional computing capacity in the United Arab Emirates included in the deal.

Investors from the UAE would lead the financing, which carries a pre-money valuation of $1.25 trillion. That valuation refers to OpenAI's value before the new capital is added; the $30 billion figure is the maximum size of the proposed investment, rather than a confirmed final amount.

The computing arrangement would add capacity in the UAE as part of the same agreement, linking the financing to OpenAI's access to more computing resources in the country. The terms identify the UAE as both the source of the lead investors and the location for the added capacity.

The next stated step is signing the agreement before the end of next week, which falls on Oct. 30. The financing remains planned and is not described as completed.