Altman pursues Middle East capital as OpenAI seeks $800 billion valuation - Report [Yahoo! Finance]
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Source: Yahoo! Finance
This capital injection could total at least $50 billion, according to a Wednesday report from Bloomberg citing people familiar with the matter. Altman recently visited the region to hold discussions with leading state-backed funds in Abu Dhabi, the people said. The ChatGPT maker is currently aiming for a valuation between $750 billion and $830 billion, according to Bloomberg's sources. However, the talks remain in the early stages and the final figures could still change. OpenAI has also held recent discussions with Amazon.com Inc. to raise at least $10 billion, Bloomberg News has previously reported. While the startup apparently declined to comment on the current round, previous reports from The Information suggest the company is aggressively pursuing tens of billions in new capital. The company has already raised billions to finance the immense costs of specialized chips, data centers, and technical talent. OpenAI has committed to spending more than $1.4 trillion on AI infra
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