OpenAI closed a $122 billion funding round on March 31, 2026, achieving a post-money valuation of $852 billion, according to Reuters. The round, the largest ever for a private AI company, included participation from Amazon, NVIDIA, SoftBank, and Microsoft.
The fundraising sets a baseline as OpenAI pushes toward a $1 trillion valuation. Secondary market trading in the months since has implied a higher figure, though exact current pricing remains private.
Chief Executive Sam Altman told The Wall Street Journal in June that OpenAI had filed confidentially for an initial public offering, with an expected listing within the next year. A public IPO would establish a market-determined price for the company before the end of 2026.
Competitive pressure is also mounting. Bloomberg reported that Anthropic's secondary shares traded above a $1 trillion valuation in June, placing the rival AI developer at a higher implied valuation than OpenAI for the first time.
OpenAI's next catalyst could come if its IPO filing becomes public or if secondary market trades cross the $1 trillion threshold before December 31. The race to a trillion-dollar valuation pits OpenAI's March fundraising against Anthropic's recent secondary market surge.
