(Reuters): OpenAI plans to accelerate fundraising ahead of Anthropic’s anticipated public offering

OpenAI is moving quickly to get investors to commit money before its rival Anthropic is expected to go public in mid-November. This unusually fast fundraising effort could raise the value of the company behind ChatGPT to more than $1.4 trillion.

Reuters reported that sources said one reason for the faster schedule is that OpenAI wants to stay ahead of Anthropic as the two companies compete more directly for the same investors. The sources also said OpenAI wants to make the most of its recent revenue growth after launching new models.

One source said SoftBank Group, MGX, a company based in Abu Dhabi, and other investors who already support OpenAI are discussing joining a funding round worth about $30 billion.

This effort shows how strongly the two AI companies are competing to attract investment, as both aim for a valuation of $1 trillion or more. Their efforts come as concerns grow about higher interest rates, large swings in technology stock prices, and closer examination of how much artificial intelligence companies are worth.

OpenAI plans to go public in 2027. One source said the company wants to finish raising money before Anthropic releases financial information that could give investors a clearer view of its business. That information would also make it easier for investors to compare the two companies.