Karla Barker 
High-Level Meeting in Abu Dhabi
Sam Altman, the CEO of OpenAI, sat down with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Abu Dhabi over the weekend. The meeting, confirmed by the UAE state news agency, focused on building stronger cooperation between OpenAI and organizations within the Emirates. Both leaders discussed artificial intelligence research and practical applications that could be deployed across the country.
Mohammed bin Zayed stated that this cooperation aligns with the UAE’s broader ambition to establish what he called an “integrated AI ecosystem.” He emphasized that this supports the country’s development plans and its ongoing effort to build a knowledge-based economy. The UAE has been pouring billions into becoming a significant player in the global AI landscape.
UAE’s AI Infrastructure Push
The Emirates is currently developing one of the world’s largest AI data centers and has announced plans for a new Arabic-language AI model. Officials are leveraging the country’s strong diplomatic ties with the United States to secure better access to AI technology. Back in May, the UAE and U.S. signed an agreement for the Gulf state to build what could become one of the largest artificial intelligence campuses outside American borders.
That particular deal was announced during President Donald Trump’s visit to Abu Dhabi earlier this year, highlighting the scale of cooperation between Washington and Abu Dhabi on AI infrastructure. The meeting between Mohammed and Altman appears directly tied to these existing ambitions. Emirati officials seem keen on bringing OpenAI into the country’s larger AI ecosystem to ensure that their massive investments in data centers and research projects translate into real-world applications.
Economic Transformation Goals
The UAE is betting heavily that this AI push will accelerate its economic transition away from oil dependence by boosting its technology capacity. The government’s message throughout these discussions has been clear: they want not just research partnerships but actual deployment of AI applications across various industries within the country.
This meeting also comes at an interesting time, following Nvidia’s massive funding announcement. Last week, Nvidia—currently the world’s most valuable listed tech company—said it would invest $100 billion into OpenAI to support its large-scale data center build-out. The sheer size of this investment has raised some eyebrows among investors who worry about a potential AI bubble forming.
Complex Financial Relationships
Nvidia had already participated in a $6.6 billion investment round in OpenAI back in October 2024. The chipmaker also holds about 7% of CoreWeave, a company that provides data center capacity to OpenAI while also being a customer of Nvidia products. That stake was valued at approximately $3 billion as of the end of June.
These overlapping relationships make it somewhat challenging to track where exactly the money flows. Many of Nvidia’s financing agreements are individually too small to be classified as material in regulatory filings but could be significant when considered collectively. Nvidia’s equity stakes appear to serve another purpose: they help companies like OpenAI and CoreWeave secure debt for data center projects at more favorable interest rates.
An analyst from Seaport Global Securities described such deals as being similar to “someone asking their parents to be a co-signer on their mortgage.” Lenders apparently gain confidence from Nvidia’s backing and consequently reduce the cost of borrowing. Startups building data centers have historically faced interest rates as high as 15%, compared to the 6% to 9% rates that large corporations like Microsoft typically pay.
With Nvidia’s support, both OpenAI and CoreWeave have managed to borrow at rates much closer to what established tech giants pay. The meeting in Abu Dhabi and Nvidia’s financial maneuvers demonstrate how the UAE’s AI ambitions, OpenAI’s expansion plans, and the chipmaker’s funding strategy have become deeply interconnected in ways that might reshape the global AI landscape in the coming years.