Sam Altman in UAE as OpenAI turns to Middle East for estimated $50 billion funding round

OpenAI CEO Sam Altman is meeting with investors in the Middle East to meet top investors for raising a new funding round that could total at least $50 billion, according to a report from Bloomberg. Altman is said to have spoken with investors, including leading state-backed funds in Abu Dhabi.

The ChatGPT maker is said to be looking to raise $50 billion or more at a valuation of $750 billion to $830 billion. The report noted that talks are early and the amounts could change. The company had also recently held talks with Amazon to raise $10 billion.