OpenAI accelerates fundraising as Anthropic IPO approaches

OpenAI is trying to lock in financing before rival Anthropic reaches public markets. Reuters, citing two people familiar with the matter, said the round could be about $30 billion and value the ChatGPT maker above $1.4 trillion.

SoftBank, Abu Dhabi-based MGX and other existing backers were discussing participation. The timetable is unusually quick for a financing of this size, with OpenAI meeting long-only funds and sovereign investors while Anthropic held its own investor day.

OpenAI needs capital for major infrastructure commitments and a stronger balance sheet, particularly if market volatility delays its planned 2027 listing. One source said the company was presenting annualized revenue of $50 billion after GPT-6 Astra and expecting $70 billion by year-end; those figures are attributed to the fundraising pitch, not an audited filing.

Anthropic’s expected mid-November IPO adds pressure because both labs draw on overlapping investors. Reuters said some Anthropic investors now favor a valuation near $1.5 trillion rather than an earlier $2 trillion ambition. OpenAI and SoftBank declined comment; Anthropic and MGX had not responded when Reuters published.

Sources

• Reuters