Insiders are claiming that OpenAI may soon receive a funding round valuing it at $1.2 trillion, according to the Financial Times. The intriguingly timed round could give OpenAI a higher valuation than its rival Anthropic once again, though it could also come around the same time as Anthropic’s IPO.

Meanwhile, some AI startup executives, like Cohere CEO Aidan Gomez, are portraying the calls as a covert masking of an anti-competitive scheme in which the top “market-dominant” AI labs get “to define the rules and safety standards” of AI.