OpenAI 拟以超1.4万亿美元估值融资约300亿美元
OpenAI 想赶在 Anthropic 11月中上市前锁定1.4万亿估值，避免被拉出来对比，还有营收口径差异这种细节。
据 Reuters 报道，OpenAI 正计划以超过1.4万亿美元的估值融资约300亿美元，比其3月852亿美元的估值至少高出64%。时间点选在 Anthropic 上市之前，因为 Anthropic 预计11月中旬登陆公开市场，届时两家公司将被直接比较。Anthropic 第三季度营收环比增长45%至168亿美元，增速较第二季度的翻倍放缓，部分投资者因此将其估值预期从2万亿美元下调至1.5万亿美元。报道还指出两家公司营收统计口径不同：OpenAI 按扣除合作伙伴分成后的净额记账，Anthropic 则计入通过云服务商销售的完整金额。
Reuters: OpenAI is racing to raise about $30B at a valuation above $1.4T before Anthropic goes public.
That would put OpenAI at least 64% above the $852B valuation it reached in March.
Both labs court overlapping long-only and sovereign wealth funds, and OpenAI wants commitments before Anthropic’s filings invite side-by-side comparisons.
Those comparisons are messy: OpenAI books revenue net of partner shares, while Anthropic counts the full value of sales through cloud providers. Locking in $1.4T before Anthropic’s public S-1 and mid-November debut spares OpenAI a direct comparison now
Anthropic’s third-quarter revenue rose 45% to $16.8B after more than doubling in the second, and the slowdown has some investors arguing for $1.5T instead of $2T.
Investors say OpenAI needs cash for infrastructure commitments in case a market that erased $1.6T from chip stocks in under 2 weeks further delays its 2027 listing.
