OpenAI seeks to raise $30 billion ahead of Anthropic IPO: Here’s why

OpenAI seeks to raise $30 billion ahead of Anthropic IPO: Here’s why OpenAI is seeking to raise around $30 billion at a valuation exceeding $1.4 trillion, as the ChatGPT developer looks to secure fresh capital ahead of rival Anthropic's expected stock market debut in mid-November, Reuters reported. The fundraising is moving on an accelerated timeline as both artificial intelligence companies compete for investments from overlapping pools of institutional investors and sovereign wealth funds. Existing OpenAI backers, including SoftBank Group and Abu Dhabi-based MGX, are among those discussing participation in the proposed round, one person familiar with the matter said. OpenAI met with long-term investment funds and sovereign wealth funds last week, coinciding with an investor event hosted by Anthropic. The accelerated schedule could allow OpenAI to secure commitments before investors receive more detailed financial disclosures from its rival. The fundraising also comes as OpenAI prepares to meet substantial infrastructure spending requirements and strengthen its financial position. Investors familiar with the company have said additional capital could provide greater flexibility if unfavourable stock market conditions delay its planned 2027 initial public offering. OpenAI projects revenue growth after GPT-6 Astra launch OpenAI is highlighting stronger revenue performance following the launch of its GPT-6 Astra model as part of its pitch to prospective investors. The company has reached $50 billion in annualised revenue and expects the figure to climb to $70 billion by the end of the year, the report added citing a person familiar with the matter. The company has also reduced prices for its lower-cost AI models, saying the move has increased usage. OpenAI has indicated that it has further scope to bring down model prices, the person added. Anthropic, meanwhile, recorded annualised revenue of about $65 billion by July, Reuters previously reported.