Bloomberg: MGX-led UAE consortium and BlackRock in talks for OpenAI's $30B round at $1.4T valuation

#What happened

OpenAI is in talks with Abu Dhabi-based MGX, other UAE investment funds, and BlackRock to become major investors in a $30 billion funding round, according to Bloomberg reporting published October 6, 2026.

Under the discussed structure, UAE funds could invest as much as $10 billion collectively through a consortium or syndicate. BlackRock is also in talks to participate. The talks are ongoing, and the final size and terms could change.

The proposed financing values OpenAI at approximately $1.4 trillion pre-money. OpenAI is presenting that valuation to investors as a fixed price even though it has not chosen a lead investor — an unusual structure in which the valuation is set before terms are negotiated.

Existing investors Thrive Capital and Andreessen Horowitz have also discussed participating, and OpenAI has approached the University of California endowment fund, which is already an investor. The talks come as OpenAI delays its IPO until at least 2027, citing a focus on AI safety efforts. For context, OpenAI's previous round in March 2026 raised $122 billion at an $852 billion valuation.

#Why it matters

The investor lineup is the new information: Middle Eastern sovereign capital (MGX already invests in OpenAI and Anthropic, and raised nearly $50 billion earlier this year for AI infrastructure and technology) is stepping in as an anchor alongside BlackRock, while the company skips a lead investor and fixes the price at $1.4 trillion — signaling both how much capital frontier AI needs and how confident OpenAI is in its valuation.

Verified Oct 6, 2026.