OpenAI races to lock in $30B at $1.4Tvaluation ahead of Anthropic IPO

What happened: OpenAI is moving to lock in roughly $30 billion in new investor commitments ahead of Anthropic's anticipated mid-November IPO, Reuters reports. Why it matters: The compressed timeline is partly meant to get ahead of Anthropic, since the two labs draw on a largely overlapping pool of investors. Some Anthropic investors are pushing for a valuation nearer $1.5 trillion rather than the $2 trillion the company wanted, after third-quarter results came in below expectations. Market: +5.0% today ($262.45), +15.9% YTD, 1.4x vol — as of 23:45 UTC Coverage: 6 outlets in 24h

OpenAI is moving to lock in roughly $30 billion in new investor commitments ahead of Anthropic's anticipated mid-November IPO, Reuters reports.

The compressed timeline is partly meant to get ahead of Anthropic, since the two labs draw on a largely overlapping pool of investors. Some Anthropic investors are pushing for a valuation nearer $1.5 trillion rather than the $2 trillion the company wanted, after third-quarter results came in below expectations. Market: +5.0% today ($262.45), +15.9% YTD, 1.4x vol — as of 23:45 UTC