OpenAI is seeking about $30 billion in new funding in a round that could value the ChatGPT developer at more than $1.4 trillion, Reuters reported Monday, citing people familiar with the matter. The company is reportedly trying to secure investor commitments before rival Anthropic’s expected public debut in mid-to-late November 2026.

Existing OpenAI backers SoftBank Group and Abu Dhabi-based MGX are reportedly in talks to participate in the round. The fundraising effort could allow OpenAI to secure capital before Anthropic’s financial disclosures invite comparisons between the two companies, which are competing for interest from many of the same sovereign wealth funds and large institutional investors.

Reuters reported that OpenAI is moving quickly to raise the funds before investors turn their attention to Anthropic’s listing. The report is available from Reuters.

The fundraising push also comes as OpenAI faces significant infrastructure costs. The Financial Times previously reported that the company could burn nearly $280 billion by 2030. OpenAI was valued at $852 billion in March after raising $122 billion, making the proposed valuation substantially higher than its previous figure.

The effort is taking place amid volatile technology markets. Bond yields are rising, while investors are monitoring the debt required to finance artificial intelligence infrastructure.

An X post about the reported fundraising effort said:

OPENAI IS REPORTEDLY RACING TO RAISE MONEY BEFORE ANTHROPIC'S IPO The round could value the ChatGPT maker at over $1.4 trillion OpenAI is trying to lock in investor commitments for a round of about $30 billion before Anthropic's expected public debut in mid-November, per… pic.twitter.com/2pHmAczcM4 — IPO Newsroom (@IPONewsroom_) October 19, 2026

The post was published by IPO Newsroom on X.

Revenue figures for OpenAI and Anthropic

OpenAI is telling investors that its annualized revenue reached nearly $50 billion at the end of September. According to one person familiar with the matter, the company expects annualized revenue to reach $70 billion by the end of the year. OpenAI says growth accelerated after the launch of its GPT-6 Astra model.

Anthropic’s quarterly revenue increased to $16.8 billion in the third quarter from $11.6 billion in the second quarter. However, slower monthly growth has raised questions about the company’s valuation. Reuters previously reported that Anthropic’s annualized revenue reached roughly $65 billion by July.

OpenAI has ruled out an initial public offering in 2026, and its IPO plans have reportedly shifted to 2027 amid increasing concerns about the safety of AI models. In June, CEO Sam Altman said the company would not rush into an IPO until it could “make confident safety decisions.” He said OpenAI could consider going public after developing a better understanding of how to manage the next stage of AI development.

Anthropic CEO Dario Amodei has repeatedly urged technology companies and governments to slow AI development to reduce security risks. The company’s reported draft prospectus warned that advanced AI could pose “catastrophic or existential risks to humanity.”

As of Monday’s report, OpenAI was still seeking about $30 billion, while Anthropic’s public debut was expected in the coming weeks.

Source: CoinCentral