OpenAI Reportedly Seeks $30 Billion at $1.4 Trillion Valuation

OpenAI is seeking about $30 billion in new funding at a valuation above $1.4 trillion ahead of Anthropic's expected mid-November IPO. SoftBank Group and Abu Dhabi's MGX are in talks to participate. Last week OpenAI met long-only funds and sovereign wealth funds while Anthropic held its investor day. OpenAI has told investors annualized revenue reached about $50 billion and could rise to $70 billion by the end of 2026. Anthropic's annualized revenue reached roughly $65 billion by July; third-quarter revenue was $16.8 billion, up from $11.6 billion in the second quarter, about 45 percent quarter over quarter. Some investors put Anthropic's IPO valuation closer to $1.5 trillion than the hoped-for $2 trillion. In March OpenAI raised $122 billion at an $852 billion valuation, with Amazon committing up to $50 billion. Edward Best said OpenAI could want to set its own valuation and not have to worry about a comparison. The round's size and valuation are not finalized. Anthropic's coming disclosures may invite direct comparisons and press Sarah Friar for more detail on growth. What capital remains for Anthropic's debut after this raise is unresolved.