OpenAI Explores Funding from Saudi Arabia, India, and UAE Investors for $40 Billion Raise

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OpenAI, the creator of ChatGPT, has held talks with Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and the UAE’s MGX about joining its planned $40 billion financing round, The Information reported on Wednesday. Each investor could contribute hundreds of millions of dollars or more, according to sources familiar with the discussions.

The fundraise, reportedly led by SoftBank, aims to support OpenAI’s development of advanced AI models and its ambitious infrastructure project called Stargate. Earlier in 2025, CEO Sam Altman engaged with India’s IT Minister about fostering a low-cost AI ecosystem, and he planned to visit the UAE to pursue funding talks with MGX, sources told Reuters.

OpenAI is also in discussions with U.S. investors Coatue and Founders Fund to secure at least $100 million each. The company anticipates raising an additional $17 billion by 2027 to continue scaling its AI capabilities.

Microsoft-backed OpenAI and the mentioned investors have not yet responded to requests for comment, and Reuters has not independently verified the funding discussions.

Brazil’s Supreme Court Moves Toward Holding Social Media Platforms Accountable for User Posts

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Brazil’s Supreme Court ruled on Wednesday that social media platforms may be held responsible for certain illegal content posted by users on their sites, though key details of the ruling remain unresolved. In a preliminary vote, six of the 11 justices favored holding platforms accountable, which could lead to fines for companies that fail to remove unlawful posts.

This decision affects major players like Meta’s Facebook and Instagram, TikTok, Elon Musk’s X, and Alphabet’s Google in Brazil’s vast market of over 200 million users. Currently, under Brazilian law, platforms are only liable if they ignore a court order to remove content. The court majority sees this as a “veil of irresponsibility,” as Justice Gilmar Mendes stated, since companies are not presently held accountable even when aware of illegal content.

Meta warned in a 2024 statement that such a ruling could make platforms liable for nearly all types of content without prior notification. Google expressed openness to improving the law but emphasized the need for clear procedures to avoid legal uncertainty and indiscriminate content removal. TikTok and X representatives in Brazil did not respond to requests for comment.

The court has yet to define which content types would be considered illegal and is working towards consensus. Four judges are yet to vote in this ongoing trial, with the next session scheduled for Thursday. Changing earlier votes is possible but rare.

Consumer Reports Calls on Congress to Reject Proposed Electric Vehicle Tax Fees

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Consumer Reports, a leading consumer advocacy organization, urged Republican lawmakers on Wednesday to abandon a proposal to impose an annual fee on electric vehicles (EVs) aimed at funding road repairs. The plan initially calls for a $250 yearly fee on EVs, with Senator Bernie Moreno proposing to increase this to $500 for electric cars and $250 for plug-in hybrids.

Consumer Reports warned the fees would impose a disproportionate financial burden on EV owners, who could pay between three and seven times more than owners of comparable gasoline-powered vehicles in federal gas taxes. The proposed fees could notably affect owners of Tesla, General Motors, and other electric vehicle brands.

Chris Harto, a senior policy analyst at Consumer Reports, criticized the fees as “punitive taxes designed to confiscate fuel savings from consumers who just want to save money for their families.”

The broader legislative context includes the U.S. House dropping a previously proposed $20 federal vehicle registration fee for all vehicles starting in 2031. The House bill also seeks to end the $7,500 new EV tax credit by the end of 2024 for most automakers, repeal a $4,000 used EV tax credit, dismantle vehicle emissions regulations, and terminate an Energy Department loan program that supports green vehicle technology development. Additionally, it aims to phase out EV battery production tax credits by 2028.

Ford has expressed concern about the bill’s provisions, particularly the elimination of EV battery production credits tied to Chinese technology, which jeopardizes its $3 billion investment in a Michigan plant currently 60% complete and expected to employ 1,700 workers.

Separately, President Donald Trump plans to sign resolutions that block California’s EV sales mandates and diesel engine regulations, according to industry and House aides.