OpenAI in Talks to Raise About $30 Billion at Over $1.4 Trillion Valuation

OpenAI is accelerating its next funding round, planning to raise approximately $30 billion before rival Anthropic's expected IPO in mid-November, according to reports on October 21.

The round could value OpenAI at more than $1.4 trillion, up about 64% from the $852 billion valuation in March this year. The company expects its annualized revenue to reach $70 billion by the end of the year with the launch of the GPT-6 Astra model.

Anthropic reported revenue of about $16.3 billion in the first half of this year, compared with $1.1 billion in the same period last year, and spent nearly $9 billion on computing and infrastructure, up from $2.3 billion a year earlier. The company may spend another $750 billion on computing power in the coming years.