OpenAI, the creator of ChatGPT, is currently in discussions to raise funds amounting to $40 billion. This initiative includes talks with Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and existing shareholder MGX from the United Arab Emirates, as reported by The Information and Yahoo

According to sources familiar with the situation, each of these investors could potentially contribute hundreds of millions of dollars to the fundraise. OpenAI’s efforts to secure additional financing aim to support its model development and an ambitious infrastructure plan known as Stargate, with the funding round led by SoftBank.

Earlier this year, OpenAI CEO Sam Altman met with India’s IT Minister to discuss the country’s strategy for establishing a low-cost AI ecosystem. Following this meeting, Altman planned a visit to the UAE to engage with Abu Dhabi investment group MGX regarding potential funding. The company is also reportedly looking to raise at least $100 million each from Coatue and Founders Fund, and it anticipates raising an additional $17 billion by 2027.