"Altman Meets Middle Eastern Investors for Additional Funding"

"Major AI Companies Turn Their Attention to Middle Eastern Investors"

Bloomberg News reported on January 21 (local time) that Sam Altman, CEO of OpenAI, is in talks with investors in the Middle East to secure additional funding.

Sam Altman, CEO of OpenAI. Photo by Yonhap News

According to Bloomberg, OpenAI is considering raising more than 50 billion dollars at a company valuation of approximately 750 billion to 830 billion dollars through this funding round. Bloomberg noted that discussions are still in the early stages and the size of the funding could change.

Previously, The Information, a U.S. technology media outlet, reported last month that OpenAI was seeking new funding at a valuation of 750 billion dollars. Bloomberg also reported that OpenAI recently held talks with Amazon regarding a potential investment of at least 10 billion dollars.

OpenAI, which ushered in the era of artificial intelligence (AI) chatbots with the launch of ChatGPT at the end of 2022, is now facing fierce competition from rivals such as Google. Bloomberg stated, "While many still regard ChatGPT as synonymous with AI, OpenAI is now facing competition from Google, Anthropic, and others." Notably, when Google unveiled its new AI model 'Gemini 3' in November last year, CEO Altman declared a 'code red' within the company.

The competition to attract investment in the AI industry is also intensifying. Anthropic, which operates the AI chatbot 'Claude,' is reportedly in talks to raise large-scale new funding at a company valuation of 350 billion dollars. In addition, Bloomberg reported that several major AI companies, including xAI led by Tesla CEO Elon Musk, are turning to well-capitalized Middle Eastern investors. Previously, OpenAI secured funding from MGX, a technology investment firm based in Abu Dhabi, United Arab Emirates (UAE).