Ultraman personally went to Abu Dhabi to “Huayuan”: OpenAI increases Middle East layout and negotiates US$30 billion financing

The Zhitong Finance App learned that OpenAI has signed a number of agreements to deploy its technology to UAE energy companies, investment institutions and government agencies to deepen ties. Meanwhile, OpenAI is seeking multi-billion dollars in funding from investors with a background in the country's government.

ChatGPT developer CEO Sam Ultrman traveled to Abu Dhabi to hold talks with Crown Prince Sheikh Khaled bin Mohammed Al Nahyan, the Abu Dhabi Media Office said in a statement on Monday.

Top AI companies, including OpenAI and Anthropic, have turned to well-resourced Middle Eastern investors to meet their huge capital needs to develop and support cutting-edge AI software. Last month, it was reported that OpenAI is in talks with a number of UAE investment funds, including Abu Dhabi-headquartered MGX, to help anchor a $30 billion round of financing.

According to the agreement signed on Monday, Abu Dhabi National Petroleum Company (Adnoc) became the first energy company to deploy cutting-edge OpenAI technology, the statement said. Adnoc also said that OpenAI's intelligent entity will “continuously forecast crude oil supply, demand, prices and profit margins, and predict the impact before it occurs.”

OpenAI also signed agreements with Mubadala and Inception42 to apply advanced AI capabilities to investment analysis. The San Francisco-based company is also working with the UAE Government's Ministry of Empowerment to launch an AI-native “machine-readable government” program.