OpenAI speeds up $30 billion raise at over $1.4 trillion value
SoftBank and Abu Dhabi's MGX are among investors in talks to join the round, which OpenAI wants closed before Anthropic's expected November listing.
By The Carnegie Standard Staff
· 1 min read
OpenAI is moving quickly to complete a funding round of about $30 billion that would value the company at more than $1.4 trillion, Reuters reported on October 20, citing people familiar with the talks. SoftBank Group, Abu Dhabi state investor MGX and existing shareholders are in discussions to take part.
The company compressed a timeline that usually runs months because rival Anthropic is expected to list publicly in mid-November 2026, and both are courting the same sovereign wealth funds, long-term asset managers and technology investors. Some investors said OpenAI wants capital committed before Anthropic publishes more detailed financial data.
OpenAI has told prospective investors that annualized revenue is about $50 billion following the release of GPT-6 Astra and should reach $70 billion by the end of 2026. The two companies' figures are not directly comparable: OpenAI books revenue net of amounts owed to cloud and other partners, while Anthropic counts gross contract value sold through third-party clouds. Anthropic reported third-quarter revenue of $16.8 billion, up about 45% from roughly $11.6 billion in the second quarter.
In March 2026, OpenAI raised about $122 billion at an $852 billion post-money valuation, with Amazon committing up to $50 billion.
This story was first reported by TradingKey.
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