Masayoshi Son’s SoftBank completed the final $10 billion tranche of its $30 billion investment in OpenAI on Thursday, 1 October. The investment was made through three $10 billion tranches via Vision Fund 2, and SoftBank raised $11.1 billion in a high-yield corporate bond sale to fund its October investment. Its cumulative investment in OpenAI now stands at $64.6 billion, giving it a 13% stake.
Sam Altman’s OpenAI is now in talks with UAE funds including MGX, alongside BlackRock, over a further $30 billion funding round. As of 5 October 2026, the discussions put a $1.4 trillion valuation on the company.
MGX may contribute as much as $10 billion with other UAE funds. No lead investor has been selected for the proposed round.
The University of California’s endowment, Thrive Capital and Andreessen Horowitz have also discussed participating. OpenAI and BlackRock declined to comment on the talks, while MGX did not respond to requests for comment. Thrive Capital also declined to comment.
The prospective fundraising follows OpenAI’s $122 billion round, which closed on 31 March 2026 at an $852 billion valuation. Amazon, Nvidia and SoftBank anchored that financing, described as the largest private financing on record.
OpenAI announced a confidential initial public offering filing on 8 June 2026.
MGX already holds stakes in OpenAI, Anthropic and xAI. The fund is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, and Mubadala and G42 are its founding partners. MGX raised close to $50 billion this year.
The fund and BlackRock also run a $30 billion infrastructure vehicle with Microsoft and Nvidia. That arrangement places two of the companies now discussing OpenAI’s financing in an existing partnership built around infrastructure investment.
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