OpenAI Racing to Raise $30 Billion Ahead of Anthropic Listing

OpenAI is reportedly rushing to lockdown investors before chief competitor Anthropic goes public next month. That’s according to a report Monday (Oct. 19) by Reuters, which describes the effort as “unusually fast fundraising” that could bring OpenAI’s valuation to more than $1.4 trillion. Two sources familiar with the matter told Reuters this timetable is a reflection of OpenAI trying to gain ground on Anthropic as both companies are increasingly courting the same investors. The sources added that OpenAI hopes to capitalize on recent revenue growth after debuting new artificial intelligence (AI) models. Existing investors including SoftBank and the Abu Dhabi-based MGX are in discussions to join the roughly $30 billion round, one of the sources told Reuters.