Abu Dhabi-based technology investment firm MGX has acquired a stake in OpenAI, the company behind ChatGPT, as part of a $6.6 billion secondary share sale, pushing the US company’s valuation to an impressive $500 billion.
According to Reuters, current and former OpenAI employees sold their shares to a group of global investors, including Thrive Capital, SoftBank, Dragoneer Investment Group, T. Rowe Price, and MGX. The deal follows a funding round in October 2024 that valued OpenAI at around $157 billion, in which MGX had also participated.
OpenAI’s revenues reached approximately $4.3 billion in the first half of 2025, marking a 16% increase compared to its total revenue for 2024. This rapid growth underscores OpenAI’s pivotal role in the global AI landscape.
Founded in March 2024 as a joint initiative by Mubadala Investment Company and G42, MGX focuses its investment portfolio on AI infrastructure, semiconductors, and other foundational technologies.
As part of ongoing efforts to deepen collaboration, OpenAI CEO Sam Altman visited Abu Dhabi in February 2025 for fundraising talks with MGX. Last week, Altman also met with UAE President Sheikh Mohamed bin Zayed Al Nahyan, highlighting the strategic importance of this partnership for both parties.
