OpenAI seeks to raise $30 billion ahead of Anthropic IPO: Here’s why

OpenAI is seeking to raise around $30 billion at a valuation exceeding $1.4 trillion, as the ChatGPT developer looks to secure fresh capital ahead of rival Anthropic's expected stock market debut in mid-November, Reuters reported. The fundraising is moving on an accelerated timeline as both artificial intelligence companies compete for investments from overlapping pools of institutional investors and sovereign wealth funds. Existing OpenAI backers, including SoftBank Group and Abu Dhabi-based MGX, are among those discussing participation in the proposed round, one person familiar with the matter said. OpenAI met with long-term investment funds and sovereign wealth funds last week, coinciding with an investor event hosted by Anthropic. The accelerated schedule could allow OpenAI to secure commitments before investors receive more detailed financial disclosures from its rival.