Reuters: OpenAI races to lock down its $30B round before Anthropic's mid-November IPO

#What happened

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 on Oct 19, citing two people familiar with the matter. SoftBank Group, Abu Dhabi-based MGX and other existing backers are in talks to join the round of about $30 billion. OpenAI held meetings with long-only funds and sovereign wealth funds last week while Anthropic was hosting its own investor day.

#Why it matters

The rapid timetable reflects a desire to get ahead of Anthropic while both labs tap the same investor base. OpenAI is pitching investors on $50 billion in annualized revenue after the GPT-6 Astra launch, expecting that to rise to $70 billion by year-end, and told investors its cheaper-model price cuts boosted usage. The company records revenue on a net basis after subtracting partner shares, and has accused Anthropic of inflating revenue by counting gross contract values. OpenAI wants the round done before Anthropic's financial disclosures invite direct comparisons; it also needs capital for infrastructure commitments and as a buffer if a weak IPO market further delays its planned 2027 listing.

#Verified Oct 19, 2026

Sources: Reuters exclusive (via SRN News): https://srnnews.com/exclusive-openai-seeks-to-accelerate-fundraising-ahead-of-anthropic-ipo-sources-say/ and https://aistockwire.com/blog/openai-accelerates-30-billion-round-before-anthropic-ipo-1-4-trillion-october-2026