Frontier AI labs: OpenAI and Anthropic near trillion-dollar valuations, massive compute deals, IPO plans
Key Questions
What are the current valuations for OpenAI and Anthropic?
OpenAI closed funding at a $122B valuation while Anthropic reached $30B at a $900B pre-money valuation. Both labs are nearing or discussing trillion-dollar valuations.
What major compute and investment deals involve these labs?
OpenAI secured a $10B commitment from MGX/SoftBank and has a $4B PE deployment JV. Anthropic signed an investment deal with AMD for up to $5B in AI servers and chips.
Are OpenAI or Anthropic planning IPOs?
Anthropic has October IPO plans with valuation talks reaching $1.2T. OpenAI is also considering an IPO alongside a Microsoft truce and $2B monthly revenue run rate.
OpenAI $122B closed ($10B MGX/SoftBank, $3B retail/PE), $4B PE deployment JV, acquires Weights.GG, SoftBank $100B France DC rumor, $2B/mo rev, MS truce/IPO. Anthropic $30B at $900B pre-money, $47B revenue run rate, TeraWulf $19B lease for 401MW AI campus, Oct IPO, $1.2T valuation talks. Both labs dominate global AI capital: $242B+ in 12 months, 98.29% North America, 96.19% late-stage. Concentration risk remains extreme.