OpenAI Accelerates $30 Billion Round Ahead of Anthropic IPO

OpenAI is accelerating a fundraising round of approximately $30 billion to secure investor commitments before its competitor, Anthropic, makes an expected public market debut in mid-November. The funding push could value the company at over $1.4 trillion as it seeks to capitalize on revenue growth following the launch of its GPT-6 Astra model.

OpenAI reports annualized revenue of $50 billion and expects that figure to reach $70 billion by the end of the year. By rushing the timeline, the company aims to lock in capital from long-only funds and sovereign wealth funds before Anthropic's IPO disclosures enable direct financial comparisons between the two firms.

Potential participants in the round include SoftBank Group and the Abu Dhabi-based MGX Fund Management Limited. This competition for capital occurs as other companies pause or cancel listing plans due to rising interest rates, market volatility, and increased scrutiny of AI valuations. Chief Financial Officer Sarah Friar may face increased investor pressure for detailed financial disclosures once Anthropic's public filings become available.