OpenAI Seeks $50 Billion Middle East Funding

OpenAI is in talks with Middle East sovereign wealth funds to raise roughly $50 billion in new financing, CNBC reported Wednesday, with CEO Sam Altman in the United Arab Emirates for the discussions. Sources said term sheets are unsigned and the round could close in the first quarter; the company previously raised a $40 billion round led by SoftBank and completed a $6.6 billion share sale valuing it at $500 billion.