OpenAI CEO Sam Altman to Visit UAE for Talks with MGX on AI Funding

OpenAI CEO Sam Altman is set to visit the United Arab Emirates this week for discussions with Abu Dhabi investment group MGX regarding potential fundraising, according to sources familiar with the matter. This visit follows Altman's recent tour of Asia and comes as OpenAI faces new competition from China's DeepSeek. The talks with MGX, a state-backed AI-focused investment fund, align with UAE's ambitions to establish itself as a global AI leader. This meeting occurs amid reports of OpenAI seeking a multibillion-dollar funding round, valuing the company at up to $300 billion, and follows the announcement of the Stargate AI infrastructure project.

Source: Reuters, February 5, 2025