OpenAI (NASDAQ:OAI) is seeking approximately $30 billion in additional funding as it looks to secure investor commitments ahead of rival Anthropic’s (NASDAQ:ANTP) anticipated stock market debut in mid-November, according to a Reuters report published on Monday.
Citing people familiar with the matter, Reuters reported that the fundraising could value the ChatGPT developer at more than $1.4 trillion.
The company is reportedly approaching existing investors, including Japan’s SoftBank Group (TYO:9984) and Abu Dhabi-based investment firm MGX, as it seeks additional capital from sovereign wealth funds and institutional investors.
According to the report, OpenAI is presenting investors with an annualised revenue figure of $50 billion and expects that figure to reach $70 billion by the end of the year, following the introduction of its GPT-6 Astra model.
The fundraising discussions come ahead of Anthropic’s expected initial public offering in mid-November, which could provide investors with additional financial information for comparing the two artificial intelligence developers.
Reuters reported that Anthropic’s quarterly revenue increased to $16.8 billion in the third quarter from $11.6 billion in the second quarter. The report also noted a slowdown in monthly revenue growth, which has prompted questions about the company’s valuation.
OpenAI was previously valued at $852 billion in March following a $122 billion fundraising round, according to Reuters. The potential valuation of more than $1.4 trillion would represent an increase from that earlier funding transaction.
Both companies are seeking capital as investment in artificial intelligence infrastructure continues, including expenditure on computing capacity and data centres.
The reported fundraising activity is taking place amid fluctuations in technology shares, higher bond yields and increased attention to debt financing associated with AI infrastructure development.
Neither the proposed $30 billion fundraising nor the potential valuation has been presented as a completed transaction. The timing and final terms of any investment agreements remain subject to the outcome of the reported discussions.