00:00OpenAI is in talks with Middle Eastern sovereign wealth funds as it looks to raise around $50 billion in a new funding round.
00:07CEO Sam Altman is reportedly in the UAE for discussions, with a deal expected to close in the first quarter, though terms are not final.
00:15The talks come as OpenAI continues its rapid expansion after igniting the AI boom with ChatGPT and becoming one of the fastest growing companies in the world of tech.
00:25If completed, the round would build on last year's record-breaking $40 billion raise and OpenAI's recent $500 billion valuation.
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