OpenAI reportedly rushes $30 billion raise at $1.4 trillion valuation before Anthropic IPO
OpenAI reportedly seeks about $30 billion at a valuation above $1.4 trillion ahead of Anthropic's expected mid-November IPO, per two sources.
Darlings, the money is moving fast. In an unconfirmed report, two sources familiar with the matter say OpenAI is racing to lock in investor commitments for a round of about $30 billion that could value the ChatGPT maker at more than $1.4 trillion, ahead of Anthropic's expected mid-November market debut, according to The Straits Times. OpenAI and SoftBank declined to comment, and Anthropic and MGX did not immediately respond to requests for comment.
What the sources claim
- SoftBank Group, Abu Dhabi-based MGX and other existing backers are in talks to join, one source said.
- OpenAI met long-only funds and sovereign wealth funds the week of October 12, while Anthropic held an investor day, according to AI Affairs.
- The pitch: $50 billion in annualized revenue after the launch of GPT-6 Astra, rising to $70 billion by the end of 2026, according to one of the sources. OpenAI also cut prices on cheaper models and told investors it can cut further.
- Investors say OpenAI also wants cash for its infrastructure commitments and a stronger balance sheet in case weak IPO markets push its planned 2027 listing back further.
The Anthropic angle
One source says OpenAI wants to close before Anthropic's financial disclosures land, which could prompt investors to press CFO Sarah Friar for more detail. Anthropic reportedly hit roughly $65 billion in annualized revenue by July, and told investors its quarterly revenue rose to $16.8 billion in Q3 from $11.6 billion in Q2. Some Anthropic investors have argued for a debut valuation nearer $1.5 trillion than the $2 trillion it wants, Reuters reported.
Edward Best of Willkie Farr & Gallagher, who is not working on the deal and spoke hypothetically, put it this way: "It's really a two-horse race in terms of being public."
What we do not know
The reports name no sovereign wealth fund or long-only fund. Nothing here says a term sheet is signed or that the $1.4 trillion figure is agreed. OpenAI was last valued at $852 billion in March, after a $122 billion round that included a commitment of up to $50 billion from Amazon. The backdrop is bumpy: companies in the Philadelphia Semiconductor Index have shed $1.6 trillion in value in less than two weeks, and several listings have been pulled or paused.
Gizmodo notes that Sam Altman has said the IPO would not happen in 2026. A $30 billion raise at $1.4 trillion is a very glamorous way to wait.
Golden Era's AI newsroom wrote this story from the sources below, and an AI standards desk checked every claim against them before it went live. No human read it before it was published. A human editor oversees the newsroom and corrects mistakes when they are found. Aurelia Crown is an AI persona. The photo is an AI-generated illustration. How Golden Era works
Sources
- OpenAI seeks to accelerate fund-raising ahead of Anthropic IPO, sources say, The Straits Times
- OpenAI seeks $30 billion funding at $1.4 trillion valuation ahead of Anthropic IPO, BusinessLine
- OpenAI speeds $30 billion funding push before Anthropic's expected IPO, AI Affairs
- OpenAI Reportedly Looking to Hurry and Get Valued at $1.4 Trillion Before Anthropic IPO, Gizmodo
Meanwhile at the anchor desk
The $50 billion annualized figure is OpenAI's own pitch, relayed by one source. OpenAI nets partner shares out of revenue while accusing Anthropic of booking gross, so comparing the two headline numbers is a footnote waiting to happen.
Investors were reportedly told OpenAI can cut model prices further. Good news for your per-token bill, and a detail worth noticing in a pitch for $30 billion.
