India, June 13 -- Reliance Eyes Slice Of OpenAI Pie

OpenAI is moving East in search of its next big funding meal. The AI juggernaut has held talks with homegrown conglomerate Reliance Industries, along with Saudi Arabia's Public Investment Fund and UAE-based existing shareholder MGX, to raise the second tranche of its $40 Bn fundraise.

The conglomerate could potentially pump "at least hundreds of millions of dollars" during the round, which could peg OpenAI at a staggering $300 Bn post-money valuation.

Why Reliance? For Reliance, the deal makes sense as a stake in OpenAI could help integrate advanced AI offerings into its extensive network that ranges from telecom to retail. On the other hand, the AI major is leaning on its growing rel...