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Rohan Paul· @rohanpaul_ai · X·· 3 小时前精选AI 评分77
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据 Reuters 报道,OpenAI 正赶在 Anthropic 上市前洽谈融资约 300 亿美元,估值超 1.4 万亿美元,比 3 月的 8520 亿美元至少高 64%。

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原文梳理了融资节奏背后的竞争逻辑和两家收入口径差异,提供了理解估值分歧的具体依据。

正文 · 原文

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.

来源:Rohan Paul · x.com