OpenAI is racing to secure investor commitments for a round of about US$30 billion that could value it above US$1.4 trillion, ahead of rival Anthropic's expected public debut in mid-November, according to two people familiar with the matter. SoftBank, MGX and other existing backers are in talks to join, and some investors see the move as a way to lock in capital that might otherwise go to Anthropic's IPO, since the two labs tap a similar investor base. OpenAI says its annualised revenue reached US$50 billion and expects US$70 billion by end-2026, while Anthropic's annualised revenue was roughly US$65 billion by July and its third-quarter revenue hit US$16.8 billion. After Anthropic's third-quarter results fell short of expectations, some existing and prospective investors reportedly argued for a valuation closer to US$1.5 trillion instead of US$2 trillion. OpenAI was last valued at US$852 billion in March, and several companies preparing to go public have reportedly delayed their plans until after Anthropic's IPO.
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OpenAIAnthropicIPOartificial intelligence
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| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/19/2026 | 217.09 |
| Change that session | +1.38% |
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