By PYMNTS | October 22, 2026
OpenAI is close to finalizing a funding round in which it could raise as much as $30 billion at a $1.25 trillion pre-money valuation, CNBC reported Thursday (Oct. 22), citing unnamed sources.
OpenAI told investors Thursday that it aims to secure signatures by the end of next week, though the final size of the round is still being determined, according to the report.
OpenAI launched discussions for the round after being approached by investors in December, and the company has been positioning the round as an “opportunistic” bridge before its potential IPO, per the report.
OpenAI did not immediately reply to PYMNTS’ request for comment.
Reuters reported Monday (Oct. 19) that OpenAI was rushing to lock down investors before its chief competitor, Anthropic, goes public next month.
That report described OpenAI’s effort as “unusually fast fundraising” that could bring in roughly $30 billion and bring the company’s valuation to more than $1.4 trillion.
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Two sources familiar with the matter told Reuters that OpenAI’s timetable is a reflection of the company trying to gain ground on Anthropic as both companies are increasingly courting the same investors.
The Financial Times reported Oct. 14 that Anthropic had narrowed its revenue gap with OpenAI ahead of its initial public offering.
Anthropic’s revenue went from $4.8 billion in the first quarter to $11.6 billion in the second and $16.8 billion in the third. Each quarter this year has exceeded the company’s entire 2025.
Meanwhile, OpenAI told investors its annualized revenue was approaching $50 billion at the end of September, about $20 billion below the expected $70 billion, the Financial Times reported Oct. 8.
Yahoo Finance reported Wednesday (Oct. 21), citing unnamed sources, that Anthropic could make its IPO paperwork public as soon as Friday (Oct. 23), moving the company one step closer to what could be the largest stock market debut ever.
A public filing would clear the way for a possible November listing and would give everyday investors their first look at Anthropic’s finances and risks.
Anthropic’s offering, which is expected to top SpaceX’s June IPO, is “widely viewed as a crucial test of investor appetite for the artificial intelligence boom,” Yahoo Finance reported.
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