OpenAI races to line up investors before Anthropic's expected IPO, Reuters reports

As of 7:54 p.m. ET, Monday, Oct. 19, 2026

OpenAI is racing to secure investor commitments before rival Anthropic's expected public market debut in mid-November, in an unusually fast fundraising that could value the ChatGPT maker at over $1.4 trillion, Reuters reported Monday, citing two people familiar with the matter.

Bloomberg News reported on Sept. 29 that OpenAI aimed to raise at least $30 billion in a new funding round at a valuation of around $1.4 trillion, not including the money raised, citing people familiar with the matter. Those discussions were early and could change, Bloomberg reported at the time.

The rapid timetable reflects in part a desire to get ahead of Anthropic as the two companies increasingly tap a similar investor base, the people told Reuters. OpenAI also wants to capitalize on its recent revenue growth after launching new models, and its funding round is expected to move faster than is typical for an offering of its size, the people said, according to Reuters.

OpenAI held meetings with long-only funds and sovereign wealth funds last week while Anthropic was hosting its own investor day, Reuters reported. Some investors view OpenAI's financing push as an effort to lock in capital from funds that might otherwise devote more of their resources to Anthropic's IPO, the people said, according to Reuters.

Investors familiar with the company say OpenAI also needs capital to fund its infrastructure commitments and bolster its balance sheet if a deterioration in the IPO markets further delays its planned 2027 listing, Reuters reported.

OpenAI and SoftBank Group declined to comment, and Anthropic and Abu Dhabi-based MGX did not immediately respond to requests for comment, Reuters reported.

OpenAI was last valued at $852 billion in March, after a $122 billion funding round that included a commitment from Amazon.com to invest up to $50 billion, according to Reuters. The Financial Times previously reported some details of OpenAI's potential fundraising, Reuters said.

A number of companies preparing to go public have decided to wait until after Anthropic's planned IPO, wary of competing for investor demand amid market volatility and a pullback in AI stocks, bankers and investors told Reuters.