Artificial intelligence giant OpenAI has closed $122 billion in committed capital for a post-money valuation of $852 billion, a round that dwarfs anything raised in private markets and cements the company as the most valuable startup in history by a wide margin.
The funding was anchored by Amazon, Nvidia and SoftBank, with continued participation from Microsoft. SoftBank led alongside a16z, DE Shaw Ventures, MGX, TPG and accounts advised by T. Rowe Price.
The investor list reads like a who’s who of global capital — BlackRock, Blackstone, Fidelity, Sequoia, Temasek, Coatue and ARK Invest all participated.
For the first time, OpenAI opened participation to individual investors through banking channels and raised over $3 billion from this tranche alone.
OpenAI said it generates $2 billion in revenue per month, up from $1 billion per quarter by the end of 2024. ChatGPT has more than 900 million weekly active users and over 50 million subscribers. The company claims 6 times the monthly web visits and mobile sessions of the second largest AI app and 4 times the total time spent by all other AI apps combined.
Enterprise now accounts for more than 40% of revenue and is on track to reach parity with consumer by the end of 2026. The company’s APIs process more than 15 billion tokens per minute. Codex, its coding agent, serves over 2 million weekly users, up five times in three months.
OpenAI also expanded its revolving credit facility to about $4.7 billion, backed by JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley and others. This facility remains undrawn on March 31.
The company framed the increase around compute as a strategic moat. Its infrastructure strategy now spans cloud partnerships with Microsoft, Oracle, AWS, CoreWeave and Google Cloud, silicon through Nvidia, AMD, AWS Trainium, Cerebras and its own custom chip with Broadcom, and data centers through Oracle, SBE and SoftBank.
Meanwhile, the company said it is building a “unified AI superapp” that would combine ChatGPT, Codex, browsing and agent functions into a single product.
The idea is that as the models become more capable, the bottleneck shifts from intelligence to usability, and a single surface lets the company translate model improvements directly into adoption.
The $852 billion valuation places OpenAI above all but a handful of public companies globally. For context, that’s roughly the market cap of Berkshire Hathaway and bigger than Visa, JPMorgan Chase or Samsung.
