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ChatGPT advances in trillion-dollar race
OpenAI is rushing to raise funding ahead of the expected public offering of Anthropic in November 2026, aiming to stay ahead of competitors and increase the company's valuation to over $1.4 trillion. OpenAI is targeting to raise approximately $30 billion, with investors such as SoftBank and M.G.X. participating, amidst intense competition between the two companies to attract capital amid risks of rising interest rates and market volatility in the tech sector. OpenAI plans to go public in 2027 and is seeking to strengthen its financial position before releasing its earnings, reflecting the fierce competition to lead the artificial intelligence market.
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