OpenAI Races to Lock $30B Round at $1.4T+ Valuation Before Anthropic's Mid-November IPO

Reuters reports OpenAI is accelerating a new fundraising round seeking roughly $30 billion at a valuation that could exceed $1.4 trillion, with SoftBank, Abu Dhabi's MGX and existing backers in talks. OpenAI pitched prospective investors that annualized revenue reached $50B after GPT-6 Astra and is tracking toward $70B by year-end. The urgency reflects a desire to close before Anthropic's mid-November IPO disclosures let investors compare the two labs' financials side by side.