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

OpenAI is moving quickly to lock in roughly $30 billion in new investor commitments ahead of Anthropic's anticipated mid-November IPO, Reuters reports. Existing backers, including SoftBank Group (SFTBY [https://seekingalpha.com/symbol/SFTBY]) and Abu Dhabi's MGX, are in talks to join the round, which would value OpenAI at about $1.4T. That compares with the $852 billion valuation it received in March, when it closed a record $122 billion round that included a commitment of up to $50B from Amazon (AMZN [https://seekingalpha.com/symbol/AMZN]). The compressed timeline is partly meant to get ahead of Anthropic, since the two labs are drawing on a largely overlapping pool of investors.