OpenAI races to raise $30 bln ahead of Anthropic IPO, Reuters reports By Investing.com

Investing.com-- OpenAI is accelerating fundraising to secure investor commitments before rival Anthropic's expected mid-November stock market debut, in a push that could value the ChatGPT maker at more than $1.4 trillion, Reuters reported on Monday, citing people familiar with the matter.

The company is seeking about $30 billion from investors, including existing backers SoftBank Group (TYO:9984) and Abu Dhabi-based MGX, as both artificial intelligence developers compete for capital from sovereign wealth funds and major institutional investors, the report said.

OpenAI is pitching investors on annualized revenue of $50 billion, which it expects to reach $70 billion by year-end following the launch of its GPT-6 Astra model, Reuters reported.

Anthropic's quarterly revenue rose to $16.8 billion in the third quarter from $11.6 billion in the second, though slower monthly growth has raised questions about its valuation.

The accelerated fundraising could help OpenAI secure capital before Anthropic's financial disclosures invite comparisons between the businesses. OpenAI was valued at $852 billion in March after raising $122 billion, the report said.

The funding push comes amid volatile technology markets, rising bond yields and scrutiny of the debt required to finance AI infrastructure, complicating both companies' ambitions for trillion-dollar valuations.