OpenAI signs energy and investment deals in Abu Dhabi as Altman meets crown prince
Sam Altman travels to UAE's largest oil conference to deepen ties with state-backed investors amid $1.4 trillion fundraising push.
What to know
- OpenAI signed multiple deals with Abu Dhabi entities including ADNOC for energy operations, Mubadala and Inception42 for investment analysis, deepening state ties as it seeks $1.4 trillion valuation.
- Sam Altman met Abu Dhabi's Crown Prince at ADIPEC, the UAE's largest oil and gas conference, amid ongoing Middle East security tensions that prompted US oil majors ExxonMobil and Chevron to cancel attendance.
- The deals mark OpenAI's race to secure UAE investor commitments ahead of rival Anthropic's expected mid-November public market debut.
“ADNOC will be the first company in the energy sector to deploy OpenAI's frontier technology”
Sultan Al Jaber, ADNOC CEO · Channel News Asia ↗
Sam Altman OpenAI CEOSheikh Khaled bin Mohamed bin Zayed Al Nahyan Abu Dhabi Crown PrinceSultan Al Jaber ADNOC CEOADNOC Abu Dhabi national oil companyG42 UAE-based AI firm
How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts
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OpenAI seeking $1.4 trillion valuation from UAE investors amid Anthropic IPO race — According to Reuters sources, OpenAI is racing to secure investor commitments before rival Anthropic's expected public market debut in mid-November, including from Abu Dhabi-based MGX, in a fundraising effort that could value the ChatGPT maker at over $1.4 trillion.
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Altman meets Abu Dhabi Crown Prince during visit
Sam Altman met with Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan during his attendance at the UAE's largest oil and gas gathering, marking another step in the relationship between OpenAI and the UAE.
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OpenAI signs deals with Abu Dhabi energy, investment, and government entities
At the ADIPEC conference in Abu Dhabi, OpenAI signed multiple agreements including a deal with ADNOC and G42 to deploy AI capabilities across the state energy firm's operations. ADNOC will become the first company in the energy sector to deploy OpenAI's frontier technology. Additional deals were signed with Mubadala and G42 unit Inception42 for investment analysis and risk assessment.
“We can bring down the cost of delivering great AI in almost every way, except, you know, atoms are still atoms and the physical world that has to power this, I think that is going to be the very dominant factor.”
— Sam Altman -
first by Channel News Asia, 11d ago · also Bloomberg Tech, Investing.com News, Reuters
2 more headlines
- OpenAI’s Altman Travels to UAE to Sign Energy, Investment Deals Bloomberg Tech · 11d ago
- Adnoc signs AI deal with OpenAI as Sam Altman visits Abu Dhabi Investing.com News · 11d ago
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1 outlet first by CNBC, 11d ago · read ↗
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What people are saying 3 voices from 1 site · verbatim
- Nov 2
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🇦🇪🇺🇸 The UAE wants AI to help figure out what its oil is worth BEFORE it even comes out of the ground. ADNOC has signed a major deal with OpenAI and G42, becoming the FIRST energy company to deploy OpenAI's Frontier technology. Planning the development of an entire oilfield
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Sam Altman met with Abu Dhabi’s crown prince as OpenAI raises a new funding round co-led by UAE investors, per CNBC. The visit came with deals across Abu Dhabi, from ADNOC and G42 deploying OpenAI’s top models to the government making its regulations readable by AI.
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🇦🇪🇺🇸 ABU DHABI IS TAKING AI FROM CHATBOTS TO INDUSTRIAL SCALE. Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan met Sam Altman and witnessed the signing of four agreements with OpenAI spanning government, energy and investment. And one of them could