OpenAI seeks to raise $30 billion ahead of Anthropic IPO: Here’s why
OpenAI is seeking to raise about $30 billion at a valuation of more than $1.4 trillion. The company that developed ChatGPT wants to secure new funding before its rival Anthropic is expected to go public in mid-November, Reuters reported.
The fundraising is moving faster because both artificial intelligence companies are competing for investments from many of the same institutional investors and government-owned investment funds. Existing OpenAI investors, including SoftBank Group and Abu Dhabi-based MGX, are discussing whether to take part in the proposed funding round, a person familiar with the matter said.
Last week, OpenAI met with long-term investment funds and government-owned investment funds. These meetings took place at the same time as an investor event hosted by Anthropic. The faster schedule could help OpenAI secure investment promises before investors receive more detailed financial information about its rival.
The fundraising also comes as OpenAI prepares for large infrastructure costs and wants to strengthen its finances. Investors familiar with the company have said that extra funding could give it more financial flexibility if poor stock market conditions delay its planned initial public offering (IPO) in 2027.
OpenAI expects revenue to grow after the GPT-6 Astra launch
OpenAI is using its stronger revenue performance following the launch of its GPT-6 Astra model to attract potential investors. The company has reached $50 billion in annualised revenue, meaning its current revenue rate over a year, and expects this figure to rise to $70 billion by the end of the year, the report said, citing a person familiar with the matter.
The company has also lowered prices for its cheaper AI models and says this has led to more people using them. OpenAI has said it may be able to reduce model prices further, the person added.
Anthropic, meanwhile, reached about $65 billion in annualised revenue by July, Reuters previously reported. The company told investors that its quarterly revenue rose from $11.6 billion in the second quarter to $16.8 billion in the third quarter.
However, worries that monthly revenue growth is slowing have raised questions about how much Anthropic could be worth when it goes public.
OpenAI wants to finish its fundraising before Anthropic releases financial information that would help investors compare the two companies in more detail. Once those details become available, investors may also ask OpenAI Chief Financial Officer Sarah Friar for more information about the company's growth and financial forecasts.
The two companies also calculate revenue from cloud partners differently. OpenAI counts revenue after subtracting the share paid to its partners. It has accused Anthropic of counting the full value of contracts sold through outside cloud service providers.
OpenAI was valued at $852 billion in March after raising $122 billion. That funding round included a commitment from Amazon.com to invest up to $50 billion in the company.
Market uncertainty creates challenges for AI IPO plans
The fundraising efforts are taking place as technology stocks and public listings face greater uncertainty. Companies planning to go public have delayed their plans until after Anthropic's expected IPO. Some private companies in later stages of growth have also changed their fundraising schedules to avoid competing for the same investor money.
Some existing and potential Anthropic investors have reportedly pushed for a listing valuation closer to $1.5 trillion instead of the $2 trillion the company wants. This debate comes after the company's third-quarter results fell short of expectations.
First published on
October 20, 2026, 10:01:01 IST