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Investing.com-- OpenAI is in talks with Saudi Arabia’s PIF and India’s Reliance Industries (NSE:RELI) over participating in its $40 billion fundraising round, The Information reported on Wednesday.
The ChatGPT maker also approached existing shareholder MGX- the United Arab Emirates’ tech investment vehicle- over the round, the report said, citing people familiar with the matter.
The investors could put in at least hundreds of millions of dollars each in OpenAI, The Information reported. OpenAI also discussed raising at least $100 million each from Coatue and Founders Fund as part of the $40 billion fundraise, the report said.
The ChatGPT maker is seeking to raise more funds, as it embarks on a $500 billion plan- project Stargate- to build artificial intelligence infrastructure in the United States. Softbank (OTC:SFTBY) is a lead partner in the project, and has also heavily invested in OpenAI this year.
The Microsoft-backed start-up is arguably the most popular AI firm, with its ChatGPT tool used by hundreds of millions of users weekly.