OpenAI in talks to raise fresh funds from Saudi Arabia’s PIF, India’s Reliance Industries: The Information

OpenAI has held discussions with Saudi Arabia’s Public Investment Fund (PIF), Reliance Industries, and UAE’s MGX to participate in its ongoing $40 billion fundraising, US tech publication The Information reported.

The talks are part of the second instalment of the fundraise, where OpenAI is looking to raise about $30 billion by December, potentially valuing the company at around $260 billion before the new investment, the report said.

Japan’s SoftBank, which is leading the round, has already been actively buying shares from employees. Between…