OpenAI is seeking more UAE funding

OpenAI goes back to the Abu Dhabi well: OpenAI is in talks with UAE funds to provide up to USD 10 bn to help anchor its upcoming USD 30 bn funding round, Bloomberg reports. Once again, MGX, the AI investment firm set up in 2024 by sovereign wealth fund Mubadala and AI champion G42, is at the table.

MGX first backed the ChatGPT maker in its USD 6.6 bn funding round in 2024. It then co-led the company’s record USD 122 bn round this March. (MGX also backs rivals Anthropic and xAI, and raised a USD 49 bn AI fund in July.)

New financing for Broadcom chips: Broadcom has started lining up a USD 60 bn debt package to help fund the AI chips it’s building for Anthropic and other firms, Bloomberg reports. The deal is a test of whether investors are still keen to fund AI’s US buildout amid a public backlash against data centers.

Meanwhile: SpaceX is looking to borrow USD 40 bn to buy Nvidia chips, per MarketWatch.

Finally: Anthropic’s IPO is still tentatively on for November — on month than originally planned — according to the Wall Street Journal.