According to a recent report by Reuters, OpenAI is stepping up its efforts to secure around $30 billion (€26.7 billion) in new funding.
The company wants to lock in investor support before competitor Anthropic is expected to go public in mid-November. If successful, the capital injection could drive the valuation of the company behind ChatGPT above $1.4 trillion (€1.2 trillion).
To attract these funds, OpenAI is targeting major institutional investors and sovereign wealth funds, including existing partners such as MGX from Abu Dhabi and SoftBank Group. OpenAI points to its strong financial trajectory and reports annual revenue of $50 billion (€44.5 billion). With the upcoming release of the GPT-6 Astra model, management expects this figure to rise to $70 billion (€62.4 billion) by the end of the year.
Meanwhile, Anthropic has seen its quarterly revenue increase from $11.6 billion (€10.3 billion) in the second quarter to $16.8 billion (€15 billion) in the third quarter. Despite this rise, a slowdown in monthly growth has created uncertainty about the company’s overall market value.
By accelerating its own fundraising, OpenAI hopes to strengthen its financial position before the public disclosures around Anthropic’s IPO make direct comparisons between the performance of the two companies possible.
The battle for capital is taking place during a period of instability in technology markets. Bond yields are rising and investors are worried about the huge debt burden companies are taking on to finance AI infrastructure. That economic pressure makes it harder for both companies to pursue a trillion-dollar valuation.
OpenAI’s valuation in March stood at $852 billion (€759 billion), following a funding round of $122 billion (€108 billion).
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