OpenAI in $40B Talks with Reliance, PIF, MGX for AI Boost

Post by : Bianca Suleiman

Photo: Reuters

OpenAI, the tech company that made ChatGPT, is talking to big investors to raise up to $40 billion. A report by The Information says that OpenAI is in discussions with India’s Reliance Industries, Saudi Arabia’s Public Investment Fund (PIF), and MGX, a company from the United Arab Emirates that already supports OpenAI.

These companies may each invest hundreds of millions of dollars. OpenAI plans to use this money to improve its AI models and build a huge project called “Stargate.”

Earlier this year, OpenAI’s CEO Sam Altman met with India’s IT Minister, Ashwini Vaishnaw. They talked about how India could build a low-cost AI system. After this meeting, Sam Altman went to the UAE and talked about funding plans with MGX.

OpenAI is also in talks with Founders Fund and Coatue. Each of them might invest $100 million. In total, OpenAI hopes to raise another $17 billion in 2027. So far, none of the companies involved—Reliance, PIF, MGX, OpenAI, or SoftBank—have given any public comment.

Stargate is a large project that aims to build powerful systems for artificial intelligence. It is a team effort between SoftBank, OpenAI, and Oracle. They plan to build big computer centers and office campuses to support AI development. Abu Dhabi’s MGX is also helping with the project.

This project was shared with the public in January. At a press event in the White House, U.S. President Donald Trump stood with Masayoshi Son (SoftBank’s CEO), Sam Altman (OpenAI’s CEO), and Larry Ellison (Oracle’s Executive Chairman) to announce the plan.

Masayoshi Son, who is now the chairman of Stargate, said they will spend $100 billion right away. Later, they hope to increase it to $500 billion to help OpenAI grow even more.

Other tech giants like Microsoft, Nvidia, Arm Holdings, and SoftBank will also support Stargate by giving technology and tools. This shows how global tech leaders are working together to grow AI—and how India may play an important part in this journey.