According to Reuters, OpenAI is racing to secure investor commitments for a round of about $30 billion that could value it at more than $1.4 trillion. The aim is to get ahead of Anthropic's expected stock market debut in mid-November. SoftBank and Abu Dhabi's MGX are in talks to take part. OpenAI and SoftBank declined to comment.

What it means: The two largest independent AI companies now compete not only for customers and researchers but for the same pool of capital. Investors able to put billions into such companies are limited, and OpenAI appears keen to lock in money before it flows to Anthropic's public offering. Valuations near a trillion dollars rest on fast revenue growth, but also on huge data centre commitments that require constant funding. The timing is not ideal: interest rates, volatility in tech stocks and growing scepticism about sector valuations make investors more selective. The information comes from unnamed sources and terms may change. For customers in Greece and Europe, the financial resilience of providers matters in practice. Businesses building products on one model depend on stable pricing and continuity of service. Being able to switch between providers remains the best insurance against sudden changes. Keeping prompts, evaluations and integrations portable costs little today and can save a great deal of time if a provider changes course.

Read the original on Moneycontrol (Reuters)

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