OpenAI seeks funding before Anthropic launch

OpenAI is seeking to raise approximately $30 billion in funding before its subsidiary Anthropic's initial public offering, which is expected in mid-November 2026. The goal is to boost its valuation to over $1.4 trillion. This accelerated timeline risks giving OpenAI an edge over its competitor, as both companies compete to attract investors and capitalize on revenue growth following the launch of new artificial intelligence models. The two are vying for trillion-dollar valuations amid concerns over rising interest rates and market volatility in the tech sector, with OpenAI planning to go public in 2027.

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