OpenAI races to raise $30B at over $1.4T valuation ahead of Anthropic IPO

OpenAI is rushing a roughly $30 billion private round at a valuation above $1.4 trillion to lock in commitments before Anthropic's mid-November IPO. SoftBank and MGX are in talks to join; OpenAI cites $50 billion annualized revenue, while Anthropic reported $16.8 billion in Q3 revenue and an $80 billion half-year loss.

• OpenAI round: about $30B at a valuation above $1.4T
• OpenAI annualized revenue at $50B, projected $70B by year-end
• Anthropic Q3 revenue $16.8B; half-year loss over $80B
• SoftBank CDS hit 432 basis points, a four-year high