OpenAI Speeds $30 Billion Funding Push Ahead of Expected Anthropic IPO

OpenAI is moving to secure commitments for a roughly $30 billion private funding round before Anthropic’s expected mid-November IPO, putting the AI developers in competition for institutional capital.

The proposed financing could value OpenAI at more than $1.4 trillion. SoftBank Group, Abu Dhabi-based investment firm MGX and other existing backers are discussing participation, but their investments have not been finalized.

OpenAI met with long-term funds and sovereign wealth funds last week. The companies are seeking capital from some of the same large investors, adding urgency to OpenAI’s effort to secure commitments.

OpenAI has told prospective investors that its annualized revenue reached $50 billion after the launch of GPT-6 Astra. The company expects that pace to reach $70 billion by year-end. Those figures describe a current sales pace and a projection, rather than completed full-year revenue.

OpenAI also faces substantial infrastructure commitments. OpenAI’s 2027 listing plan could be delayed if IPO markets weaken. Anthropic’s expected mid-November debut is the next milestone in the competition for investor funds.