OpenAI races to raise $30 bn ahead of Anthropic listing, reports PYMNTS.com
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| Source: PYMNTS.com | Original article
OpenAI is scrambling to secure $30 billion in funding as it touts a projected $50 billion annual revenue, racing ahead of rival Anthropic’s upcoming IPO.
OpenAI is reportedly sprinting to lock in a $30 billion funding round ahead of rival Anthropic’s anticipated mid‑November IPO, according to Reuters and other outlets. The AI‑chip maker is pitching investors on an annualised revenue run‑rate of $50 billion, which it expects to lift to $70 billion by year‑end after the launch of its next‑generation GPT‑6 “Astra” model. Sources say the round could push OpenAI’s valuation past $1.4 trillion, with SoftBank and Abu Dhabi‑based MGX among the firms in talks to participate.
The move matters because it underscores the intensifying capital battle for dominance in generative AI. By securing a massive war‑chest before Anthropic goes public, OpenAI aims to cement its market lead, fund the development of larger models, and stave off any valuation advantage the competitor might gain from a successful IPO. The size of the raise also signals investor appetite for AI infrastructure despite growing regulatory scrutiny, as seen in recent debates over federal AI legislation.
What to watch next includes whether OpenAI can close the round at the lofty valuation being discussed, how the investor roster shapes the company’s strategic direction, and the market’s reaction to Anthropic’s IPO filing. The performance and commercial uptake of GPT‑6 Astra will be a key barometer for whether the fundraising translates into tangible product advantage, while any regulatory response to the scale of AI financing could reshape the funding landscape for the sector.
Sources
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