OpenAI reportedly considering funding from investors in Saudi Arabia and India, according to sources.

OpenAI, the creator of ChatGPT, has held discussions with Saudi Arabia’s PIF, India’s Reliance Industries, and current shareholder MGX from the United Arab Emirates regarding its $40 billion funding efforts, according to a report from The Information on Wednesday.

The report indicates that these investors may contribute at least hundreds of millions of dollars each, based on information from sources familiar with the fundraising process.

OpenAI aims to secure more funding to advance its model development and its ambitious infrastructure initiative, Stargate, with SoftBank leading the financing effort.
Earlier this year, OpenAI CEO Sam Altman engaged with India’s IT minister to explore India’s strategy for developing a low-cost AI ecosystem. Following this, Altman planned a visit to the UAE to discuss fundraising with the Abu Dhabi investment group MGX; two insiders informed Reuters of these discussions.

The Microsoft-backed organization is also in talks to secure at least $100 million each from Coatue and Founders Fund as part of the fundraising, according to The Information, which noted that the company anticipates raising an additional $17 billion by 2027.

Reuters was unable to confirm the report immediately.

OpenAI, PIF, Reliance Industries, MGX, and SoftBank did not respond right away to Reuters’ requests for comments.