OpenAI Seeks $30B Raise at $1.4T Valuation Before Anthropic IPO
OpenAI is accelerating a ~$30 billion fundraising round targeting a valuation above $1.4 trillion to secure capital before Anthropic's public debut. The move aims to avoid unfavorable side-by-side comparisons and address massive infrastructure commitments amid market volatility that could delay its own 2027 listing.
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Rohan Paul (@rohanpaul_ai) · 2026-10-20 08
Reuters: OpenAI is racing to raise about 1.4T before Anthropic goes public.
That would put OpenAI at least 64% above the $852B valuation it reached in March.
Both labs court overlapping long-only and sovereign wealth funds, and OpenAI wants commitments before Anthropic’s filings invite side-by-side comparisons.
Those comparisons are messy: OpenAI books revenue net of partner shares, while Anthropic counts the full value of sales through cloud providers. Locking in $1.4T before Anthropic’s public S-1 and mid-November debut spares OpenAI a direct comparison now
Anthropic’s third-quarter revenue rose 45% to $16.8B after more than doubling in the second, and the slowdown has some investors arguing for 2T.
Investors say OpenAI needs cash for infrastructure commitments in case a market that erased $1.6T from chip stocks in under 2 weeks further delays its 2027 listing.
