Reuters reports OpenAI is racing to raise about $30 billion at a valuation over $1.4 trillion before Anthropic's expected IPO
EXCLUSIVE: OpenAI seeks to accelerate fundraising ahead of Anthropic IPO, sources say
Context
If it closes, the round would make OpenAI one of the most valuable companies in the world and show that the two leading labs are now competing directly for the same investors.
This is a report based on unnamed sources, and OpenAI and SoftBank declined to comment to Reuters. Bloomberg reported earlier in October that OpenAI was seeking at least $30 billion at about $1.4 trillion, so the new detail is the faster timetable ahead of Anthropic's listing.
- Reuters: OpenAI seeks to accelerate fundraising ahead of Anthropic IPO, sources say
- Walter Bloomberg on X: OpenAI seeks $1.4 trillion valuation ahead of Anthropic IPO
- Investing.com: OpenAI in talks with UAE funds to anchor $30 billion funding round, Bloomberg reports
- Advance Intelligence: Bloomberg says OpenAI expects $70 billion in annualized revenue by the end of 2026
Deep dive
On October 19, Reuters posted an exclusive saying OpenAI seeks to accelerate fundraising ahead of Anthropic's IPO. The Reuters story, citing two people familiar with the matter, says OpenAI is racing to secure investor commitments before Anthropic's expected public debut in mid November, in an unusually fast round that could value it at over $1.4 trillion. One person said SoftBank, Abu Dhabi based MGX and other existing backers are in talks to join the round of about $30 billion.
According to Reuters, OpenAI met long only funds and sovereign wealth funds last week while Anthropic hosted its own investor day, and some investors see the push as an effort to lock in money that might otherwise go to Anthropic's IPO. One person said OpenAI is telling investors growth sped up after GPT 6 Astra, that it reached $50 billion in annualized revenue and expects $70 billion by year end. Reuters said OpenAI wants to finish before Anthropic's disclosures invite comparisons, and that the money would also fund infrastructure commitments and support its balance sheet if its planned 2027 listing slips.
The news wire account Walter Bloomberg summarized the report earlier in the evening. Bloomberg reported on October 5 that UAE funds including MGX discussed investing as much as $10 billion and that BlackRock was also in talks, according to Investing.com.
What to expect next
Watch whether OpenAI announces a closed round and its final valuation before Anthropic lists in mid November, and which investors join. Anthropic's IPO filing will give investors their first detailed look at a frontier lab's finances, which Reuters said OpenAI wants to get ahead of. Also watch whether the gap between OpenAI's net revenue accounting and Anthropic's gross figures becomes a public point of comparison.