OpenAI is negotiating a $40 billion fundraising campaign with international investors, according to reports

Reports say that OpenAI is looking for $40 billion from investors around the world to fund the growth of its AI models and its big Stargate infrastructure project.

OpenAI, the Microsoft-backed AI company that made ChatGPT, is said to be in talks with major global investors such as the Public Investment Fund (PIF) in Saudi Arabia, Reliance Industries in India, and MGX in the United Arab Emirates in order to get up to $40 billion in funding. A story from Wednesday by The Information says this.

According to the story, which cited people who know about the situation, each of the investors could give at least a few hundred million dollars to help OpenAI grow.

SoftBank of Japan is said to be leading the new round of funding, which will speed up the work on OpenAI’s Stargate infrastructure project and future versions of its AI models.

Sam Altman, CEO of OpenAI, met with India’s IT Minister earlier this year to talk about building a low-cost AI ecosystem in the country. After that meeting, Altman was also supposed to go to the UAE to move forward with finance talks with MGX, which is based in Abu Dhabi.

The story also said that OpenAI has been in talks with well-known tech investment firms like Coatue Management and Founders Fund in order to get at least $100 million from each of them. OpenAI is said to be planning to raise an extra $17 billion in 2027, on top of the money they are already raising.

The size of the possible fundraising shows how hard OpenAI is trying to stay ahead in the global race for AI.