Bloomberg Reports OpenAI-UAE Funding Talks; No Deal Confirmed

Editorial update, 6 October 2026: This article has been revised to distinguish a reported negotiation from a completed investment. Bloomberg reported on 5 October that OpenAI was talking with UAE funds, including MGX, and BlackRock about a new financing. OpenAI, MGX and BlackRock have not publicly confirmed a new investment agreement. The proposed $10 billion UAE contribution, $30 billion round and $1.4 trillion valuation are reported possibilities, not money raised or a final price.

What has been reported

Bloomberg News reported on 5 October, citing unnamed people familiar with discussions, that several UAE funds could form a syndicate to help finance a proposed OpenAI round. According to that report, the group discussed an investment of up to $10 billion collectively; Abu Dhabi-based MGX was among the funds involved. Bloomberg also said BlackRock was in discussions to participate alongside the group. The report explicitly cautioned that fundraising was ongoing and details could change.

Bloomberg separately reported on 29 September that OpenAI was seeking at least $30 billion at a proposed pre-money valuation of roughly $1.4 trillion. Those figures describe a target under discussion. They should not be read as a completed funding round, a confirmed commitment from any named institution, or OpenAI’s current transaction price.

What OpenAI has confirmed

OpenAI’s 31 March 2026 funding announcement says it closed a round with $122 billion in committed capital at an $852 billion post-money valuation. It named MGX among the co-leads and affiliated BlackRock funds among participating institutions. That historical relationship is documented. It does not independently verify the October negotiations or their proposed terms.

The same OpenAI announcement said the company was generating $2 billion in revenue per month at that point and described its need for computing capacity. These are company statements about March, not independently audited current-quarter figures. The company’s announcement provides context for why another large financing might interest investors, but it does not establish whether the rumored round will close.

What remains unknown

There is no disclosed signed agreement for the reported October round. The amount any UAE fund or BlackRock affiliate might invest, any final valuation, the ownership and governance terms, and the timing of a closing remain unknown. A negotiation can end with different terms or no transaction. Investors and readers should also distinguish the pre-money valuation reported for the proposed round from the post-money valuation OpenAI announced for March.

This report relies on Bloomberg’s original reporting for the new talks and OpenAI’s company statement for the earlier financing. Subsequent articles that cite Bloomberg do not provide independent confirmation of the October discussions. We will update this page if the company or investors announce final terms or other original reporting independently corroborates the negotiations.