OpenAI has told potential backers it reached $50B in annualized revenue and aims for $70B by year-end, while planning its own IPO for 2027. UAE-based funds are reportedly considering contributing up to $10B to the current round. MGX already owns a stake in Anthropic, putting the Abu Dhabi fund on both companies' cap tables. Prediction market Kalshi currently puts the probability of an Anthropic IPO announcement this year at 73%.
Tuesday, October 20, 2026
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OpenAI Targets $1.4 Trillion Valuation With $30B Raise Before Anthropic IPO
Startups1 day ago
SoftBank and Abu Dhabi's MGX are in discussions to participate in a new capital raise for OpenAI as the company moves to outpace a competitor's imminent market entry. The maker of ChatGPT is rushing to secure $30B in commitments for a private round that would value the company at more than $1.4T, per Reuters. This represents an increase from its $852B valuation in March. The accelerated timeline is designed to lock in institutional investors before rival Anthropic's expected initial public offering in mid-November.
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