OpenAI’s estimated $852 billion valuation is reportedly facing increased scrutiny from some of its own investors as the company shifts its strategic focus toward the enterprise market in an effort to compete more directly with Anthropic, according to a Financial Times report. The report notes that OpenAI recently raised $122 billion in what could be the largest funding round in Silicon Valley history. Despite this milestone, the company has revised its product roadmap twice over the past six months, driven by intensifying competition first from Google and then from Anthropic.

Some investors are concerned that these repeated strategic adjustments may weaken OpenAI’s competitive position against rivals such as Anthropic and a resurgent Google, even as the company prepares for a potential initial public offering as early as this year. Industry analysts have also suggested that Anthropic’s revenue growth rate could soon overtake that of OpenAI within a matter of months. The company is also accelerating efforts to expand enterprise adoption across its product ecosystem globally amid intensifying market competition pressure.

An early investor told the Financial Times that the company appears unfocused, questioning why it is prioritizing enterprise and coding tools despite ChatGPT’s massive user base and rapid consumer growth. OpenAI Chief Financial Officer Sarah Friar rejected claims that investors are dissatisfied with the company’s direction, stating that such suggestions do not reflect the actual situation.

In a statement to Reuters, an OpenAI spokesperson said the $122 billion fundraising round was heavily oversubscribed, completed quickly, and supported by a wide range of leading global investors, underscoring strong confidence in the company’s strategy, current momentum, and long-term growth potential.