OpenAI reportedly speeds up $30 billion funding push ahead of Anthropic IPO

OpenAI is reportedly accelerating a private financing round as Anthropic prepares for a possible stock market debut in mid-November. People familiar with the discussions say the ChatGPT developer wants to secure commitments before its rival's offering and could obtain a valuation exceeding $1.4 trillion.

The proposed round would raise approximately $30 billion, with SoftBank and Abu Dhabi investment firm MGX reportedly discussing participation. OpenAI is said to have met institutional investors and sovereign wealth funds last week. The companies are pursuing some of the same investors, making the timing significant..

The talks follow a financing that OpenAI announced on March 31. The company said that round secured commitments totaling $122 billion and valued the business at $852 billion after the investment..

OpenAI has not confirmed the proposed new round or its terms. Its reported goal is to secure the financing before Anthropic releases financial disclosures that would allow closer comparisons between the businesses. The fundraising timetable and Anthropic's expected listing date remain unconfirmed..