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OpenAI Accelerates Fundraising Ahead of Anthropic’s IPO, Valuation May Exceed $1.4 Trillion
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- DeepHorus
Reuters reported that OpenAI is racing against the clock to secure investor commitments, striving to complete financing before rival Anthropic's expected listing in mid-November. People familiar with the matter said that if the financing is completed smoothly, the valuation of the ChatGPT developer could exceed $1.4 trillion, equivalent to about RMB 9.37 trillion. The unusually rapid pace of this financing highlights the competition between the two frontier artificial intelligence laboratories for the capital markets.
This tight arrangement partly reflects OpenAI's intention to move before Anthropic. The two frontier laboratories are increasingly competing for the same group of investors. OpenAI also hopes to further consolidate its position through revenue growth after recently launching new models.
A person familiar with the matter said that SoftBank Group, Abu Dhabi-based MGX, and other existing OpenAI backers are in talks to participate in this financing round of about $30 billion. The financing size is equivalent to about RMB 200.782 billion. OpenAI's current funding round is expected to proceed much faster than the normal pace for financing of a similar size.
Last week, as Anthropic held its investor day, OpenAI also met with several long-term investment funds and sovereign wealth funds. Investors therefore face a challenge: they need to evaluate two competing companies with complex businesses within just a few days or weeks and make capital allocation decisions. Some investors believe that OpenAI's aggressive fundraising this time is aimed at locking up funds that might otherwise have been allocated more heavily to Anthropic's IPO.
Investors familiar with OpenAI pointed out that the company needs substantial capital to support its massive infrastructure investment. If deteriorating IPO market conditions force a delay in its originally planned 2027 listing, these funds can also help shore up its balance sheet. Against this backdrop, OpenAI's current funding round is expected to proceed much faster than the normal pace for financing of a similar size.
At present, market demand for shares in both companies is strong, but it remains to be seen whether the financing can be completed at an unusually rapid pace. If OpenAI successfully completes this round, its valuation could exceed $1.4 trillion, and it will lock in more investor resources before Anthropic's listing. Competition between the two companies over capital and investors is expected to continue.
