OpenAI trims valuation target to US$1.25 trillion after investor pushback
Anthropic’s initial public offering is expected in mid-November 2026, Reuters reported, and OpenAI is working to lock in commitments before it.
Anthropic is seeking a valuation between US$1.5tn and US$2tn, according to CNBC.
Its third-quarter revenue reached US$16.8bn, up from US$11.6bn in the second quarter, Reuters reported, with slowing month-to-month growth prompting some investors to argue for the lower end of that range.
OpenAI is pitching investors on US$50bn in annualized revenue, rising to an expected US$70bn by year-end, Reuters said.
Edward Best, co-chair of capital markets at Willkie Farr & Gallagher, told the agency the contest is “really a two-horse race in terms of being public.”
