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OpenAI’s massive $852 billion valuation is now under a microscope as some of its own backers question whether the artificial intelligence giant is losing focus at a critical moment. With rising pressure from Anthropic and Google, and a rapid pivot toward enterprise customers, concerns are mounting over whether the company can sustain its explosive growth while defending its lead in consumer AI.

Investor Scrutiny Intensifies Over Strategy Shift
OpenAI’s strategic direction has become a point of tension among investors as the company increasingly shifts its focus to the enterprise market in an effort to counter growing competition from Anthropic, according to the Financial Times. The scrutiny comes even as OpenAI attempts to position itself for a potential initial public offering as early as this year.

Last month, OpenAI raised $122 billion in what would likely rank as the largest fundraising round in Silicon Valley history. But behind the record-breaking figure, the company has reportedly rewritten its product roadmap twice in the past six months, reacting first to competitive pressure from Google and then from Anthropic.

Some investors now warn that these rapid pivots could weaken OpenAI’s position, leaving it exposed to rivals that are accelerating their own momentum.

Rivals Closing the Gap in AI Race
Industry watchers cited in the report suggest Anthropic’s revenue growth could soon outpace OpenAI’s within a matter of months, intensifying the competitive stakes in the artificial intelligence sector. The shift has fueled debate over whether OpenAI is prioritizing enterprise and coding solutions at the expense of its dominant consumer product, ChatGPT.

“A Deeply Unfocused Company” Warning From Early Backer
"You have ChatGPT, a 1 billion-user business growing 50-100% a year, what are you doing talking about enterprise and code?" an early backer of OpenAI told FT. "It's a deeply unfocused company."

The comments reflect growing unease among some early supporters who believe OpenAI risks diluting its strongest asset at a time when user growth remains rapid and global demand for ChatGPT continues to surge.

Company Pushback on Investor Concerns
OpenAI Chief Financial Officer Sarah Friar pushed back on the idea that investor support is weakening, arguing that the narrative does not reflect the company’s financial reality or backing.

In response to the report, an OpenAI spokesperson defended the company’s recent fundraising success and long-term trajectory.

"In an emailed statement to Reuters, ⁠an OpenAI spokesperson said that the company's $122 billion fundraise was "oversubscribed, completed in record time and backed by a broad set ⁠of leading global investors, reflecting strong conviction in both our direction, current business momentum, and long-term value."

As OpenAI prepares for a potential IPO and navigates intensifying competition from both Anthropic and Google, the debate over its valuation and strategic direction is only expected to grow louder in the months ahead.