OpenAI seeks about $30B in new capital at $1.4T value ahead of Anthropic IPO

what happened

According to Seeking Alpha, which cites Reuters, OpenAI is working to secure about $30 billion in new investor commitments on a tight schedule. Current backers such as SoftBank Group and Abu Dhabi's MGX are reportedly in talks to take part, a round that would put the company at roughly $1.4 trillion. In March it closed a record $122 billion round at an $852 billion valuation, which included up to $50 billion from Amazon.

The timing is tied to Anthropic's expected mid-November IPO. Because both AI labs draw on much of the same investor base, OpenAI appears keen to finish first. It told investors that growth accelerated after GPT-6 Astra launched, with annualized revenue at $50 billion and a projection of $70 billion by year-end, and that lower prices on cheaper models have boosted usage.

Anthropic, meanwhile, reportedly wants a $2 trillion valuation, but some investors are pushing for nearer $1.5 trillion after its third-quarter results missed expectations. Reuters earlier reported its annualized revenue hit about $65 billion by July, with quarterly revenue rising to $16.8 billion from $11.6 billion in the second quarter.

why it matters

The capital race between two leading AI developers matters to investors in AI-linked stocks and to valuations in private markets. A high valuation for OpenAI signals strong demand for the sector, while Anthropic's lower target shows that the market is scrutinizing its reported results more closely.

market impact

Amazon, SoftBank: their stakes in AI labs tie their returns to the valuations of OpenAI and Anthropic

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