OpenAI, the company behind ChatGPT, is reportedly close to raising another massive round of funding - this time targeting $50 billion or more from investors in the Middle East. The new round could push OpenAI's total valuation to between $750 billion and $830 billion, making it one of the most valuable private companies in the world.

The fundraising push comes just weeks after SoftBank completed a $40 billion investment in OpenAI, at the time, the largest private funding round in history. Now, the AI giant appears to be back for more.

CEO Sam Altman reportedly traveled to the United Arab Emirates to meet with sovereign wealth funds in the region. These are large, government-owned investment funds that manage billions of dollars on behalf of their countries. Altman is hoping to close the new round by the end of the first quarter of 2026.

This is not OpenAI's first time seeking money from the Middle East. MGX, a tech investment firm based in Abu Dhabi, has previously put money into the company. OpenAI is also in the process of building a large data center in the UAE, signaling its growing ties to the region.

Beyond Middle Eastern investors, OpenAI has also reportedly held early discussions with Amazon about participating in the round.

So why does OpenAI need so much money? Despite being the leading name in artificial intelligence, the company is still not profitable. Running and improving powerful AI models like ChatGPT is extremely expensive, and the company has been spending heavily to stay ahead. Competition is heating up, too, with Google's Gemini and other AI tools rapidly improving.

To grow its revenue, OpenAI is reportedly exploring advertising on ChatGPT, a move that may surprise some, given that Altman once publicly expressed discomfort with mixing AI and ads.

OpenAI is also pushing hard to become a household name as the AI race intensifies.