OpenAI Plans to Accelerate Completion of ~$30 Billion Financing Ahead of Anthropic's IPO

Sources familiar with the matter state that OpenAI is seeking to complete a new ~$30 billion financing round at an unusually fast pace, aiming to finalize the deal before Anthropic's projected mid-November IPO. SoftBank, MGX and other existing investors are in discussions to participate in the round, which could value OpenAI at over $1.4 trillion. OpenAI has informed investors that its annualized revenue has reached $50 billion, and is on track to hit $70 billion by the end of the year. Back in March this year, OpenAI closed a $122 billion financing round at a valuation of $852 billion.

Source: PANewsRead original