Sam Altman, the chief executive of OpenAI, has abruptly called off a scheduled visit to Abu Dhabi that was set to take place this weekend, according to a report from Semafor. The cancellation comes at a critical juncture for the artificial intelligence company, which recently filed confidentially for a U.S. initial public offering and is navigating heightened geopolitical tensions in the Middle East.
The planned trip was intended to include meetings with executives from Mubadala Investment Company, Abu Dhabi's G42, the AI-focused investment fund MGX, and the state-owned oil company ADNOC. MGX is already an investor in OpenAI, positioning the UAE as a key financial backer for the company's ambitious infrastructure and data-center expansion projects.
OpenAI has not provided a reason for the cancellation, and neither the company nor Mubadala responded to requests for comment. G42 also declined to comment. Despite the setback, there has been no official confirmation that the Stargate UAE project—a massive 1-gigawatt AI data-center cluster in Abu Dhabi—has been paused or halted.
The Stargate initiative, announced last year, is a cornerstone of OpenAI's international expansion. Partners in the deal include G42, Oracle, NVIDIA, Cisco, and SoftBank. The first 200 megawatts of capacity are expected to come online in 2026. G42 has described the broader UAE-U.S. AI technology campus as spanning 10 square miles and offering up to 5 gigawatts of AI data-center power.
Altman had previously hailed the Stargate UAE project as a milestone, stating, "By establishing the world's first Stargate outside of the U.S. in the UAE, we're transforming a bold vision into reality." The cancellation of his visit now casts a shadow over these plans, particularly as the region remains unsettled by the ongoing conflict in Iran.
The timing of the trip's cancellation is notable. It follows a Reuters report that OpenAI has confidentially filed for an IPO, potentially targeting a valuation as high as $1 trillion. A source told Reuters the offering could debut as early as September. The Associated Press has placed OpenAI's valuation at $852 billion, citing the enormous capital requirements needed to sustain its operations.
Emarketer analyst Nate Elliott told the AP, "OpenAI doesn't have a lot of other places to look for the enormous capital required to support its costs." This underscores the strategic importance of the UAE partnerships, which provide both funding and infrastructure for the company's resource-intensive AI models.
Geopolitical factors may also be at play. Semafor reported that there was uncertainty about whether the trip would proceed given the regional instability linked to the war in Iran. In a separate report, Reuters noted that the UAE has been working to de-escalate tensions through negotiations involving Tehran and Washington. The UAE Foreign Ministry has denied claims that any Iranian funds frozen in the country have been released or transferred.
As OpenAI navigates these complex dynamics, the future of its Stargate UAE project remains uncertain. The company's silence on the cancellation and the lack of clarity around its Gulf partnerships are likely to attract increased scrutiny from investors and regulators as it moves toward its public market debut.
