OpenAI Eyes $10B Deal, Pushing Funding Round to $120B

OpenAI is on the verge of closing a massive $10 billion investment from Abu Dhabi-based MGX, along with venture firms Coatue and Thrive Capital. The deal would balloon the company's latest funding round to approximately $120 billion total.

The valuation? A jaw-dropping $730 billion. That puts the ChatGPT maker in rarefied air, rivaling some of the world's most valuable public companies — while still technically private.

The sheer scale of capital flowing into OpenAI continues to rewrite the rules of venture funding. A single round north of $100 billion was unthinkable just a couple of years ago. Now it's reality.

MGX's involvement signals deepening ties between Middle Eastern sovereign wealth and the AI arms race. Coatue and Thrive remain repeat backers doubling down on their OpenAI bets.