OpenAI Races to Raise $30bn Ahead of Anthropic IPO

OpenAI is accelerating efforts to raise around $30 billion as it seeks to secure investor commitments before rival Anthropic's expected stock market debut in mid-November. The unusually rapid fundraising could value the ChatGPT maker at more than $1.4 trillion, according to people familiar with the discussions, as the two artificial intelligence companies increasingly compete for capital from the same major investors. SoftBank Group, Abu Dhabi-based investment firm MGX and other existing OpenAI backers are in talks to participate in the round. OpenAI held meetings with long-only investment funds and sovereign wealth funds last week while Anthropic was holding its own investor event. The timing highlights the increasingly direct competition between two of the world's leading AI developers.