OpenAI reportedly speeds up a $30 billion funding round to close before Anthropic's IPO
According to two people familiar with the matter, the round could value OpenAI at more than $1.4 trillion, and SoftBank and MGX are in talks to take part.
OpenAI is moving quickly to secure investor commitments before Anthropic's expected stock market debut in mid-November, Reuters reported, citing two people familiar with the matter. The round of about $30 billion could value the ChatGPT maker at more than $1.4 trillion. One source said SoftBank Group, Abu Dhabi-based MGX and other existing backers are in talks to join. According to the sources, the fast timetable partly reflects a desire to get ahead of Anthropic, since the two labs are increasingly courting the same investors. OpenAI also wants to capitalize on revenue growth that followed its recent model launches. The round is expected to move faster than is typical for a deal of its size. OpenAI met with long-only funds and sovereign wealth funds last week, while Anthropic was holding its own investor day. Investors familiar with OpenAI said the company also needs capital to fund large infrastructure commitments and to strengthen its balance sheet. The report comes amid concern over rising interest rates, sharp swings in technology stocks and closer scrutiny of AI valuations. Both companies are pursuing trillion-dollar valuations and drawing on the same limited pool of very large investors, so the timing of each deal could affect what terms the other can get.