OpenAI seeks €25.8bn ($30bn) at €1.2tn valuation before Anthropic IPO
OpenAI is accelerating a proposed €25.8bn ($30bn) funding round that could value it above €1.2tn ($1.4tn), aiming to secure commitments before Anthropic’s expected mid-November IPO, Reuters reports. Existing backers SoftBank and Abu Dhabi’s MGX are in talks to participate, while OpenAI told investors its annualised revenue reached €43bn ($50bn) and could rise to €60bn ($70bn) by year-end.
Bottom line — Anthropic’s mid-November IPO prospectus will give investors a fuller basis for comparing the two companies.
Go deeper 6
-
Reuters says OpenAI is competing with Anthropic for commitments from a similar pool of long-term funds and sovereign wealth funds.
-
OpenAI was valued at €733bn ($852bn) in March, after a round that included €105bn ($122bn) in committed capital, Reuters reports.
-
Anthropic told investors its quarterly revenue rose from €9.9bn ($11.6bn) in the second quarter to €14.4bn ($16.8bn) in the third, according to Reuters.
-
Reuters reports Anthropic’s annualised revenue was about €55.9bn ($65bn) by July; some investors have argued for an IPO valuation nearer €1.3tn ($1.5tn) than €1.7tn ($2tn).
-
OpenAI says lower prices for some models have increased usage and that it could cut prices further, Reuters reports.
-
Reuters says OpenAI needs capital for infrastructure commitments and to bolster its balance sheet if weaker IPO markets delay its planned 2027 listing.