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00:02OpenAI is racing to secure investor commitments before rival Anthropics expected public debut
00:07in mid-November, according to Reuters. The chat GPT maker is pursuing a $30 billion funding round
00:13that could value the company at more than $1.4 trillion. Existing investors, including SoftBank
00:19and MGX, are in talks to participate. OpenAI wants to capitalize on revenue growth following
00:24the launch of new AI models. The company reported $50 billion in annualized revenue
00:28and expects that figure to reach $70 billion by year-end. The accelerated fundraising comes
00:33as both AI developers compete for investor capital amid rising interest rates, technology stock
00:38volatility, and growing concerns about AI valuations and infrastructure costs.
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