OpenAI plans to accelerate its $30 billion funding round to lock in capital ahead of Anthropic’s public listing.

According to a Reuters report, people familiar with the matter disclosed that OpenAI is accelerating its push for a new round of financing worth approximately $30 billion, aiming to lock in investor commitments ahead of Anthropic’s expected mid-November initial public offering (IPO). The company’s valuation could exceed $1.4 trillion. SoftBank, Abu Dhabi’s investment firm MGX, and other existing investors are in discussions about participating in this financing round, though investment arrangements have not been finalized. The two firms are competing for a similar set of investors. Last week, OpenAI held meetings with long-term funds and sovereign wealth funds. Some investors believe this move is intended to secure capital that would otherwise flow to Anthropic’s IPO. OpenAI also needs funds to support large-scale infrastructure investments and strengthen its balance sheet amid a deteriorating IPO market and further delays to its 2027 IPO plan. According to one insider, OpenAI told investors that revenue growth has accelerated following the launch of GPT-6 Astra, with annualized revenue reaching $50 billion and projected to hit $70 billion by the end of the year. The company also aims to complete the financing before Anthropic discloses more complete financial information, which would prompt further comparisons by investors.