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OpenAI in Talks with Saudi, UAE and India’s Reliance to Secure $40 Billion Funding
- OpenAI is in talks with Saudi Arabia’s Public Investment Fund, India’s Reliance Industries, and UAE's MGX to raise $40 billion, led by SoftBank.
- Saudi Arabia’s wealth fund is reportedly considering investing in OpenAI, reflecting a renewed focus on American tech startups.
- OpenAI aims to secure additional funds to support model development and infrastructure plan, Stargate.
- The company is looking to diversify its investors beyond Microsoft and Silicon Valley firms.
- OpenAI plans to raise an extra $17 billion by 2027 and is negotiating to secure $30 billion from investors like Saudi Arabia’s PIF.
- The funding round values OpenAI at $260 billion, with SoftBank's share decreasing over time.
- CEO Sam Altman is reported to have visited the UAE to discuss fundraising with MGX.
- OpenAI intends to establish a data center in India and offer options to store customer data within the country.
- The organization has already started discussing data center operations in India.
- Most of OpenAI's servers are located in Texas, USA, with reliance on Microsoft's Azure Cloud services globally, including India.
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