UAE Funds and BlackRock Reportedly Explore OpenAI’s $30 Billion Round

OpenAI is discussing a new funding round of at least $30 billion with investors including funds from the United Arab Emirates and BlackRock, Bloomberg reported. Abu Dhabi-based MGX is among the prospective participants.

A UAE investor syndicate could contribute as much as $10 billion, according to the report. BlackRock is separately considering participation alongside that group.

OpenAI is seeking a pre-money valuation of about $1.4 trillion and is presenting that figure to investors as a fixed price before selecting a lead investor.

The prospective investors have existing connections to OpenAI. In its March 31 funding announcement, the company disclosed $122 billion in committed capital and an $852 billion post-money valuation.

MGX was listed among the March round’s co-leaders, alongside SoftBank, Andreessen Horowitz, D. E. Shaw Ventures, TPG and accounts advised by T. Rowe Price Associates. OpenAI also identified affiliated funds of BlackRock among the participating institutions.

Amazon, Nvidia and SoftBank anchored the financing, with Microsoft continuing to participate. The investor list combined technology companies with asset managers and private investment firms, giving OpenAI access to several types of capital rather than a single financing source.

OpenAI also said it had expanded its revolving credit facility to approximately $4.7 billion. The facility remained undrawn when the March round closed.

The reported $1.4 trillion pre-money price describes the value assigned to OpenAI before new capital enters the business. Assuming a $30 billion investment at that price, the resulting post-money valuation would be approximately $1.43 trillion.

The proposed round would also be substantially smaller than March’s $122 billion financing, while carrying a higher reported valuation.

BlackRock and MGX have worked together on AI investment outside OpenAI’s equity financing. Their September 2024 announcement with Microsoft and Global Infrastructure Partners established a partnership focused on data centers and the energy infrastructure needed to support them.

That initiative set an initial goal of mobilizing $30 billion in equity capital, potentially supporting $100 billion in investment when debt was included. Most investments were intended for the United States, with the remainder directed toward U.S. partner countries.

OpenAI’s relationship with the UAE also includes computing infrastructure. In its May 2025 Stargate UAE announcement, the company described plans for a one-gigawatt cluster in Abu Dhabi, with an initial 200 megawatts expected to become operational in 2026.

The announced partners included G42, Oracle, Nvidia, Cisco and SoftBank. The agreement also envisaged UAE investment in U.S. Stargate infrastructure.

The Stargate UAE agreement also outlined plans to use OpenAI’s technology across government, energy, health care, education and transportation. OpenAI described the project as the first partnership under its OpenAI for Countries initiative, which aims to help governments develop domestic AI capabilities in coordination with the United States.

The company said the initiative’s initial phase would pursue 10 partnerships across countries and regions. Its approach combines local computing infrastructure with access to AI services, extending the scope of its international relationships beyond fundraising. The UAE project therefore sits within a broader effort to build computing capacity closer to overseas users.