OpenAI Signs Energy and Investment Cooperation Agreements with the UAE; Altman Travels to Abu Dhabi for Talks
OpenAI signed cooperation agreements with multiple UAE institutions to deploy technology for local energy companies, investment institutions, and government departments, with CEO Sam Altman traveling to Abu Dhabi for talks with Abu Dhabi Crown Prince Khaled bin Mohamed Al Nahyan. Abu Dhabi National Oil Company became the first energy company to deploy OpenAI's frontier technology, with its agents continuously forecasting crude oil supply and demand, prices, and profit margins. OpenAI also signed agreements with Mubadala Investment Company and Inception42 to apply AI to investment analysis, and partnered with the UAE Government Empowerment Department to launch machine-readable government projects designed for AI natives; it was previously reported that OpenAI is in talks for a $30 billion funding round led by Abu Dhabi's MGX and others.
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The agreements disclose OpenAI's deployment scenarios and financing demands in the Middle East, offering a window into how leading AI companies are tying themselves to sovereign capital and energy clients.
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OpenAI has signed multiple cooperation agreements to deploy technology with energy companies, investment institutions, and government departments in the UAE, thereby deepening cooperation between the two sides. The company is seeking billions of dollars in financing from UAE state-backed investors.
The Abu Dhabi Media Office said in a statement on Monday that Sam Altman, CEO of the ChatGPT developer, traveled to Abu Dhabi for talks with Abu Dhabi Crown Prince Khaled bin Mohamed Al Nahyan.
Leading AI companies such as OpenAI and Anthropic are turning to cash-rich Middle Eastern investors for funding to meet the enormous capital demands of developing and operating frontier AI software. Media reported last month that OpenAI was in talks with several UAE local investment funds, including Abu Dhabi's MGX, hoping it would lead a $30 billion funding round.
According to the statement, under the agreements signed on Monday, Abu Dhabi National Oil Company became the first energy company to deploy OpenAI's frontier technology. Abu Dhabi National Oil Company said in a separate announcement that OpenAI agents will continuously forecast crude oil supply and demand, prices, and profit margins, and anticipate related impacts in advance.
OpenAI also signed with Mubadala Investment Company and Inception42 to apply advanced AI technology to investment analysis. The San Francisco-based company also teamed up with the UAE Ministry of Government Empowerment to launch an AI-native, machine-readable government program. news_keyword_pub,usstock, iframe below body iframe below body General statement General statement QR code at end start QR code at end start
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