OpenAI is accelerating plans to raise approximately $30 billion in fresh funding, potentially pushing its valuation beyond $1.4 trillion as it seeks to secure investors before rival Anthropic's anticipated initial public offering (IPO) in mid-November.
According to Reuters, citing people familiar with the discussions, the ChatGPT developer is moving unusually quickly to attract institutional investors amid intensifying competition for capital in the artificial intelligence industry.
Existing investors, including SoftBank Group and Abu Dhabi-based MGX, are reportedly considering participation in the funding round. OpenAI also recently held discussions with sovereign wealth funds and long-term institutional investors to secure commitments.
The aggressive fundraising strategy follows strong revenue growth driven by the launch of OpenAI's GPT-6 Astra model. The company reportedly reached $50 billion in annualized revenue and expects that figure to climb to $70 billion by the end of 2026.
OpenAI has also reduced pricing for its lower-cost AI models, encouraging wider adoption and increased usage. The company believes further price reductions could strengthen demand and expand its customer base.
Meanwhile, Anthropic is preparing for a potential November IPO after reporting annualized revenue of approximately $65 billion in July. Its quarterly revenue increased from $11.6 billion in the second quarter to $16.8 billion in the third quarter, although slowing monthly growth has raised valuation concerns.
Some Anthropic investors reportedly favor a $1.5 trillion IPO valuation rather than the company's targeted $2 trillion.
OpenAI's latest financing effort could help establish its valuation before Anthropic's public disclosures create additional pressure for direct financial comparisons.
The ChatGPT maker was previously valued at $852 billion following a $122 billion funding round in March, which included Amazon's commitment to invest up to $50 billion.
Both AI companies face growing investor scrutiny over infrastructure spending, profitability and mounting debt across the technology sector.
Recent market volatility has intensified those concerns, particularly after AI cloud provider CoreWeave faced pressure over nearly $50 billion in borrowings.
Several technology-related companies have consequently delayed or withdrawn planned public listings.
Despite these challenges, OpenAI is seeking additional capital to support its expanding AI infrastructure commitments and strengthen its financial position ahead of a potential 2027 IPO.
The funding race highlights growing competition between OpenAI and Anthropic as investors weigh rapid AI revenue growth against escalating costs and increasingly ambitious valuations.
