OpenAI races to raise $30bn at $1.4tn valuation ahead of Anthropic IPO

OpenAI is accelerating efforts to secure about $30 billion in new funding before rival Anthropic’s expected stock market debut in mid-November, in a round that could value the ChatGPT developer at more than $1.4 trillion, Reuters reported on Monday, citing people familiar with the matter.

The compressed timetable reflects competition for capital from overlapping sovereign wealth funds and institutional investors, per CTech. SoftBank Group, Abu Dhabi-based MGX and other existing backers are in talks to participate, but their investments have not been finalised, adds TokenPost.

OpenAI met long-only funds and sovereign wealth funds last week while Anthropic hosted its own investor day, and the round should move faster than typical for a transaction of its size, says Storyboard18.

OpenAI has told prospective investors that annualised revenue reached about $50 billion after the launch of its GPT-6 Astra model and could hit $70 billion by year-end — a sales pace and projection, not full-year revenue, notes TokenPost.

OpenAI was last valued at $852 billion in March following a record $122 billion round that included an Amazon commitment of up to $50 billion. Anthropic reported third-quarter revenue of $16.8 billion, up from $11.6 billion, and some investors want a listing valuation nearer $1.5 trillion than the $2 trillion sought, reports CTech.

OpenAI has ruled out an IPO in 2026 — chief executive Sam Altman cites AI safety concerns — and the new capital would strengthen its balance sheet in case weakening markets delay its planned 2027 listing, per MoneyCheck.