OpenAI Has Discussed Raising Money From Saudi Arabia, Indian Investors

OpenAI has talked to Saudi Arabia’s Public Investment Fund, Indian conglomerate Reliance Industries and existing shareholder United Arab Emirates’ MGX about investing in the next installment of its $40 billion financing led by SoftBank, according to two people familiar with the fundraise. The investors could put in at least hundreds of millions of dollars each, they said.

An investment in OpenAI by Saudi Arabia’s $900 billion–plus wealth fund would underscore the kingdom’s renewed interest in directly investing in U.S. technology startups. It’s a change from years past, when it backed tech startups through dozens of U.S. venture funds, such as Andreessen Horowitz and Iconiq Capital, as well as SoftBank’s Vision Fund.