OpenAI races to lock in $30B at $1.4Tvaluation ahead of Anthropic IPO

OpenAI is moving quickly to lock in roughly $30 billion in new investor commitments ahead of Anthropic's anticipated mid-November IPO, Reuters reports. Existing backers, including SoftBank Group (SFTBY) and Abu Dhabi's MGX, are in talks to join the round, which would value OpenAI at about $1.4T. That compares with the $852 billion valuation it received in March, when it closed a record $122 billion round that included a commitment of up to $50B from Amazon (AMZN).

The compressed timeline is partly meant to get ahead of Anthropic, since the two labs are drawing on a largely overlapping pool of investors.

OpenAI also wants to capitalize on its recent revenue momentum following its latest model launches. It is telling investors that growth picked up after the release of GPT-6 Astra, with annualized revenue reaching $50 billion and projected to hit $70 billion by year-end. The company has also cut prices on its lower-cost models, which it says has lifted usage, and it has indicated to investors that it has room to reduce prices further.

Meanwhile, Anthropic's IPO is slated for mid-November, though some investors are pushing for a valuation nearer $1.5 trillion rather than the $2 trillion the company wanted, after its third-quarter results came in below expectations. Reuters previously reported that Anthropic's annualized revenue reached about $65 billion by July, and its quarterly revenue rose to $16.8 billion in the third quarter from $11.6 billion in the second.

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