OpenAI Accelerates $30 Billion Funding Round to Preempt Anthropic IPO
OpenAI is rushing to secure $30 billion in new funding before Anthropic's mid-November IPO, aiming to lock in investors and solidify a $1.4 trillion valuation.
POLICY WIRE — New York, USA — OpenAI is aggressively pursuing a new round of capital, aiming to finalize investor commitments before its competitor, Anthropic, launches its highly anticipated public market debut in mid-November. This accelerated fundraising effort could push the valuation of the ChatGPT developer beyond $1.4 trillion.
The rapid pace of these negotiations is driven by a strategic need to secure funding from a shared pool of investors before Anthropic hits the public markets. Existing backers, including SoftBank Group and the Abu Dhabi-based firm MGX, are currently in discussions to participate in the $30 billion round.
OpenAI is leveraging its recent revenue momentum following the release of its GPT-6 Astra model to entice potential financiers. The company reported reaching $50 billion in annualized revenue, with projections suggesting that figure could climb to $70 billion by the end of the year.
Market volatility and rising interest rates have created a challenging environment for tech valuations, prompting several companies to pause or cancel their own IPO plans. Firms such as AirTrunk, Firmus, and SB Energy have recently pulled back, while the nuclear services provider Holtec cited a perfect storm of data-center demand uncertainty for its decision to scrap a US listing.
Internal concerns regarding infrastructure costs and the need to bolster its balance sheet are also fueling OpenAI’s push, especially as a potential 2027 IPO remains subject to market conditions. The company is eager to finalize this deal before Anthropic’s upcoming financial disclosures allow for direct comparisons between the two AI giants.
Edward Best, co-chair of capital markets at Willkie Farr & Gallagher, noted that the industry is effectively witnessing a two-horse race for public market dominance. OpenAI was previously valued at $852 billion in March following a $122 billion funding round that included a significant commitment from Amazon.com.
Reporting by Policy-Wire (PW)
