ChatGPT maker OpenAI has talked to Saudi’s PIF, India’s Reliance Industries and existing shareholder United Arab Emirates’ MGX about its $40 billion financing, The Information reported on Wednesday. The investors could put in at least hundreds of millions of dollars each, the report said, citing people familiar with the fundraising. OpenAI is looking to raise more funds to fuel its model development and ambitious infrastructure plan Stargate, with the financing led by SoftBank.
Earlier this year, OpenAI CEO Sam Altman met with India’s IT Minister and discussed India’s plan of creating a low-cost AI ecosystem, after which Altman also had plans to visit UAE to discuss raising funds with Abu Dhabi investment group MGX, two sources with knowledge of the matter told Reuters.
The Microsoft-backed startup has also discussed raising at least $100 million each from Coatue and Founders Fund as part of the fundraise, The Information report said, adding that the company also expects to raise an additional $17 billion in 2027.
Reuters could not immediately confirm the report.
OpenAI, PIF, Reliance Industries, MGX and SoftBank did not immediately respond to Reuters requests for comment.
OpenAI has unveiled o3-pro:
OpenAI has unveiled o3-pro, its most advanced AI model to date. Building on the foundation of the o3 model released earlier this year, o3-pro marks a major advancement in capability and performance. Unlike traditional AI systems, o3-pro is designed around a reasoning-based approach, solving problems step by step—resulting in enhanced accuracy and reliability, especially in complex domains like mathematics, physics, and software development.
OpenAI, o3-pro is now available to all Pro subscribers on ChatGPT:
According to OpenAI, o3-pro is now available to all Pro subscribers on ChatGPT, as well as through its API. While it shares the same core architecture as o3, the company emphasized that o3-pro offers notable improvements across several critical performance metrics.
“Like the base o3 model, o3-pro is equipped with powerful tools that make ChatGPT highly versatile—it can browse the internet, interpret images, work with files, run Python code, remember user preferences, and more. However, because it uses these advanced capabilities, its responses may take a bit longer to generate compared to o1-pro. For tasks where precision is more important than speed, this tradeoff is often worth it,” the company said in a statement.
