OpenAI Seeks 30 Billion Dollars as Anthropic Prepares IPO

OpenAI is seeking approximately $30 billion in new investor commitments as it competes with rival Anthropic for capital ahead of the latter's anticipated initial public offering in mid-November 2026. According to a Reuters report published by Yahoo Finance on October 20, the fundraising effort could value OpenAI at more than $1.4 trillion, while Anthropic's potential valuation ranges as high as $2 trillion.

The fundraising push comes as both artificial intelligence developers require substantial capital to expand computing infrastructure and support growing demand for their products. Existing OpenAI investors, including SoftBank Group and Abu Dhabi-based MGX, are among the potential sources of funding, according to Reuters.

OpenAI was valued at $852 billion in March 2026 after raising $122 billion, according to the Reuters report. The latest capital drive would represent another major step in the company's effort to strengthen its financial position before Anthropic begins its expected public-market debut.

Reuters reported that OpenAI is presenting investors with an annualized revenue figure of $50 billion and expects that figure to reach $70 billion by the end of 2026. The projections follow the launch of its GPT-6 Astra model, according to the report.

Anthropic has also recorded substantial revenue growth. Its quarterly revenue increased to $16.8 billion in the third quarter of 2026 from $11.6 billion in the second quarter, according to the Reuters report carried by Yahoo Finance. However, slower monthly growth has raised questions about whether its anticipated public valuation can be sustained.

Anthropic is preparing for a potential IPO that could establish a major valuation benchmark for private artificial intelligence companies. A report published by Finance BigGo on October 20 said the company was aiming to begin marketing its offering to investors as early as the week containing November 9, with a listing targeted before Thanksgiving.

Valuation expectations remain unsettled. Finance BigGo reported that investors discussed a valuation of approximately $1.5 trillion at a recent meeting, while estimates cited in the report placed a possible upper range between $1.8 trillion and $2 trillion. The final offering valuation has not been determined.

Former Google CEO Eric Schmidt could benefit substantially from Anthropic's anticipated public offering. Bloomberg reported on October 19 that Schmidt invested tens of millions of dollars in the company's Series A funding round and holds approximately 1% of the business, although it remains unclear whether he has sold any of his shares.

Anthropic's Series A round valued the company at $461 million in 2021, according to figures cited by Finance BigGo. Its valuation subsequently rose to $965 billion in its most recent funding round, the report said.

Using a hypothetical valuation of $2 trillion, a 1% stake would be worth approximately $20 billion before accounting for dilution, taxes, or other adjustments. Finance BigGo cited the Bloomberg Billionaires Index as placing Schmidt's net worth at approximately $57.5 billion, which could approach $80 billion if the high-end Anthropic valuation materializes and the assumed stake value is realized.

Market conditions add uncertainty to both companies' plans. Yahoo Finance's Reuters report cited volatile technology markets, rising bond yields and scrutiny of debt used to finance AI infrastructure as challenges facing businesses seeking trillion-dollar valuations.

Concerns about infrastructure financing have also affected investor assessments of AI companies. CNBC reported on October 16 that CoreWeave shares had fallen 54% over the preceding year and touched a new one-year low, raising questions about the company's debt-financing strategy.

According to CNBC, OpenAI's closer financial and infrastructure ties to CoreWeave contributed to a sharper short-term decline in market-implied valuations for OpenAI than for Anthropic. OpenAI's estimated valuation fell more than 4% over 24 hours, briefly dropping below $1.5 trillion, while Anthropic's rose 2.4% over the same period to slightly above $2 trillion.

Those estimates came from perpetual futures traded on Hyperliquid, a decentralized exchange, rather than completed private funding rounds or official company valuations. CNBC reported that open interest in Anthropic contracts exceeded $41 million, more than five times the less than $7 million recorded for OpenAI contracts.

Both companies' market-implied valuations were approximately 15% below their previous month's highs, according to CNBC. The figures illustrate the volatility of expectations surrounding private AI companies as investors assess revenue growth, infrastructure costs and the prospect of public listings.

OpenAI is targeting a potential public debut in 2027, according to Cryptobriefing's October 20 report, while Anthropic is preparing for a possible listing in November. Neither company's final public-market valuation is established by the reported fundraising estimates.