OpenAI seeks $30 billion funding at $1.4 trillion valuation ahead of Anthropic IPO
OpenAI is seeking $30 billion in funding at a valuation exceeding $1.4 trillion ahead of rival Anthropic's IPO, expected in mid-November. The rapid fundraising reflects OpenAI's desire to capitalize on recent revenue growth, projecting an increase from $50 billion to $70 billion by year-end. This funding is crucial for infrastructure commitments and to strengthen its balance sheet ahead of a potential 2027 IPO.