OpenAI Seeks $30 Billion Before Anthropic Listing

OpenAI is seeking about $30 billion in new funding at a valuation that could exceed $1.4 trillion, according to people familiar with the discussions, as it tries to secure investor commitments before Anthropic’s expected mid-November public listing. The round remains under discussion, and neither its size nor its valuation has been finalized. Existing OpenAI backers SoftBank Group and Abu Dhabi-based MGX are in talks to participate, one person said. OpenAI also met with long-term investment funds and sovereign wealth funds during the week before the reports were published, while Anthropic held an investor presentation. The companies are seeking capital from some of the same institutional investors. The proposed financing would follow OpenAI’s March funding round, which brought in $122 billion in committed capital at an $852 billion post-money valuation, according to the company’s announcement. A valuation above $1.4 trillion would be at least about 64% higher. People familiar with OpenAI’s plans said it needs money for infrastructure commitments and to strengthen its finances. One person familiar with investor discussions said OpenAI presented an annualized revenue rate of...