UAE funds led by MGX in talks to anchor OpenAI round exceeding $30 billion

On October 6, FT reporter Rebecca Torrence exclusively revealed that several UAE funds, including MGX, are in talks to lead a funding round for OpenAI exceeding $30 billion, with the consortium's investment potentially reaching as much as $10 billion, and BlackRock also in discussions to participate. Bloomberg reporters Shirin Ghaffary, Ed Ludlow, and Rebecca Torrenc subsequently reported details of the investor negotiations for this mega-round, likewise indicating that MGX intends to anchor the round and that BlackRock is in talks to join. Polymarket quickly listed the rumor as a prediction event, citing reports that multiple UAE investment firms are considering collectively investing $10 billion in OpenAI.

Confirmed

• Multiple media outlets (FT, Bloomberg) have reported that OpenAI is in talks with UAE funds over a new mega funding round
• Consistent key details across reports: MGX to lead/anchor, BlackRock in talks to participate, the consortium's investment could reach up to $10 billion, and the total round may exceed $30 billion
• Polymarket's implied probability of "OpenAI reaching a $1.5 trillion valuation by year-end" stands at around 32%

Unconfirmed

• All of the above funding news comes from journalists citing sources with knowledge of the matter; neither OpenAI nor the relevant funds have officially confirmed it, and the Polymarket post also explicitly notes the news is unconfirmed

Why it matters

• If closed, this would be one of the largest funding rounds ever for OpenAI and the AI industry, and the deepening tie with Abu Dhabi-linked sovereign capital (MGX) would further reshape OpenAI's capital structure
• The prediction market's mere 32% probability of a $1.5 trillion valuation this year suggests the market remains cautious about ultra-high valuations even amid rumors of major sovereign fund involvement

2026-10-06 ~ 2026-10-06 · 5 related posts

• [source] UAE funds including MGX in talks to anchor OpenAI's $30B+ raise, syndicate could invest $10B — nmasc_ · 2026-10-06
• [source] OpenAI in talks with UAE's MGX to anchor new round, BlackRock may join — shiringhaffary · 2026-10-06
• Bloomberg: Details on the investor talks shaping OpenAI's latest mega-round — nmasc_ · 2026-10-06
• UAE funds reportedly considering combined $10 billion investment in OpenAI — Polymarket · 2026-10-06
• UAE funds weigh $10B into OpenAI as Polymarket puts $1.5T valuation odds at 32% — Polymarket · 2026-10-06