--- title: OpenAI is in talks with Abu Dhabi’s MGX and BlackRock... description: OpenAI is negotiating a $30B funding round anchored by UAE funds including MGX (potentially up to $10B via a syndicate) and BlackRock, valuing the company at... canonical: https://daily.dev/posts/openai-is-in-talks-with-abu-dhabi-s-mgx-and-blackrock-for-a-30b-round-4duvwefab twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: OpenAI is in talks with Abu Dhabi’s MGX and BlackRock for a $30B round | daily.dev og:description: OpenAI is negotiating a $30B funding round anchored by UAE funds including MGX (potentially up to $10B via a syndicate) and BlackRock, valuing the company at... og:url: https://daily.dev/posts/openai-is-in-talks-with-abu-dhabi-s-mgx-and-blackrock-for-a-30b-round-4duvwefab og:image: https://api.daily.dev/og/posts/4DuVWEfAb.png og:image:alt: OpenAI is in talks with Abu Dhabi’s MGX and BlackRock for a $30B round og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # OpenAI is in talks with Abu Dhabi’s MGX and BlackRock for a $30B round **[The Next Web](https://daily.dev/sources/tnw)** · 3 min read · 0 upvotes · 0 comments ## Summary OpenAI is negotiating a $30B funding round anchored by UAE funds including MGX (potentially up to $10B via a syndicate) and BlackRock, valuing the company at $1.4T with no lead investor and a price OpenAI itself set, rather than the usual process where investors submit terms. The round follows a $122B raise in March at an $852B valuation and comes as OpenAI pushes its IPO to next year, citing AI safety focus. MGX, which already holds stakes in OpenAI, Anthropic, and xAI, and BlackRock jointly run a separate $30B infrastructure vehicle with Microsoft and Nvidia. Separately, the EU's EUR 30B AI gigafactory program has only about EUR 1B of public money actually committed, with investor interest having dropped from roughly 70 consortia to ten. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### What valuation is OpenAI seeking in its new funding round with MGX and BlackRock? OpenAI is seeking roughly a 1.4 trillion dollar valuation before the new money goes in, as part of a 30 billion dollar round. This follows a March raise of 122 billion dollars at an 852 billion dollar valuation including that cash. OpenAI is presenting the new valuation as a fixed price it set itself, with no lead investor negotiating terms in the usual way. _Anyone sizing up AI valuations can follow funding rounds like this one on daily.dev._ ### How much of the EU's 30 billion euro AI gigafactory program is actually funded? Only about 1 billion euros of public money is actually committed toward the EU's 30 billion euro AI gigafactory program. The plan calls for roughly 10 billion euros from the EU and member states and 20 billion euros from the private sector, with the remainder dependent on a future budget round. Interest from private consortia also fell from about 70 to just ten by mid-year. _Readers tracking Europe's AI infrastructure buildout can follow funding shortfalls like this on daily.dev._ ## Similar posts on daily.dev - [OpenAI reportedly finalizing $100B deal at more than $850B valuation](https://daily.dev/posts/openai-reportedly-finalizing-100b-deal-at-more-than-850b-valuation-dyssfbim3) · TechCrunch · 2 upvotes · 0 comments - [OpenAI closes record-breaking $122 billion funding round as anticipation builds for IPO](https://daily.dev/posts/openai-closes-record-breaking-122-billion-funding-round-as-anticipation-builds-for-ipo-3jcvs1txl) · Hacker News · 1 upvotes · 0 comments - [MGX AI fund hits $50bn as Abu Dhabi courts outsiders](https://daily.dev/posts/mgx-ai-fund-hits-50bn-as-abu-dhabi-courts-outsiders-0aafyu6cn) · The Next Web · 0 upvotes · 0 comments --- Tags: [#openai](https://daily.dev/tags/openai), [#ai-infrastructure](https://daily.dev/tags/ai-infrastructure) [View this post on daily.dev](https://daily.dev/posts/openai-is-in-talks-with-abu-dhabi-s-mgx-and-blackrock-for-a-30b-round-4duvwefab) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"OpenAI is in talks with Abu Dhabi’s MGX and BlackRock for a $30B round","url":"https://daily.dev/posts/openai-is-in-talks-with-abu-dhabi-s-mgx-and-blackrock-for-a-30b-round-4duvwefab","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/openai-is-in-talks-with-abu-dhabi-s-mgx-and-blackrock-for-a-30b-round-4duvwefab"},"datePublished":"2026-10-05T22:01:24.457Z","dateModified":"2026-10-06T05:16:42.225Z","description":"OpenAI is negotiating a $30B funding round anchored by UAE funds including MGX (potentially up to $10B via a syndicate) and BlackRock, valuing the company at...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/ba9e1c03fe7945d1b1068d6b390dc618?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/ba9e1c03fe7945d1b1068d6b390dc618?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"The Next Web","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"The Next Web","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tnw","url":"https://daily.dev/sources/tnw"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/openai-is-in-talks-with-abu-dhabi-s-mgx-and-blackrock-for-a-30b-round-4duvwefab","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"openai,ai-infrastructure","timeRequired":"PT3M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"The Next Web","item":"https://daily.dev/sources/tnw"},{"@type":"ListItem","position":3,"name":"OpenAI is in talks with Abu Dhabi’s MGX and BlackRock for a $30B round"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/openai-is-in-talks-with-abu-dhabi-s-mgx-and-blackrock-for-a-30b-round-4duvwefab#faq","mainEntity":[{"@type":"Question","name":"What valuation is OpenAI seeking in its new funding round with MGX and BlackRock?","acceptedAnswer":{"@type":"Answer","text":"OpenAI is seeking roughly a 1.4 trillion dollar valuation before the new money goes in, as part of a 30 billion dollar round. 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