OpenAI is reportedly racing to secure around $30 billion in investor commitments. The funding round could value the company at more than $1.4 trillion. OpenAI aims to close the round before competitor Anthropic's anticipated IPO in mid-November.
Both AI companies are courting a similar pool of investors. By setting a high valuation benchmark first, OpenAI could influence how investors price Anthropic's public debut. OpenAI intends to use the capital to fund significant infrastructure commitments and strengthen its finances as it considers a potential 2027 IPO.