OpenAI is actively seeking to anchor its latest round of financing through deep-pocketed institutional partners. Abu Dhabi-based MGX is in discussions to form a syndicate of investment funds from the United Arab Emirates, which may collectively contribute as much as $10 billion to the effort. BlackRock Inc. is also in talks to participate in the round alongside that syndicate. Representatives for MGX did not respond to requests for comment outside normal business hours, and OpenAI and BlackRock declined to comment on the negotiations.
Syndicate Formation and the $10 Billion UAE Contribution
The fundraise remains ongoing, and the details are subject to change as the company works to secure the $30 billion target.
Strategic Delay of the Initial Public Offering
The $30 billion capital injection is being positioned as bridge financing to sustain the company’s operations while it focuses on long-term safety milestones. OpenAI has officially pushed back its plans for an initial public offering until at least 2027. CEO Sam Altman has indicated that a public debut would be sidelined to prioritize AI safety first, noting in a recent interview with Fortune that he finds it unacceptable to be taking like a 10% chance of killing everybody by the end of the decade
in response to researchers’ warnings about existential risks.
This focus on safety-related protocols comes as the company faces intense capital requirements.
Involvement of Existing Backers and Infrastructure Partners
Beyond the new syndicate, OpenAI has held talks with existing investors about participating in the round. These include the University of California’s endowment fund, Thrive Capital, and Andreessen Horowitz. While these discussions are active, no formal commitments have been finalized. E. Shaw Ventures, and TPG.
The involvement of MGX is consistent with its broader strategy to accelerate spending on AI infrastructure. The investment firm, which raised close to $50 billion earlier in 2026, is chaired by Sheikh Tahnoon bin Zayed Al Nahyan and already manages a $30 billion vehicle dedicated to AI infrastructure alongside Microsoft and Nvidia.
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