OpenAI is valued at $1.25T pre-money after its latest funding round, with an annualized revenue run-rate near $70B and a confidential S-1 already with the SEC. Here's everything an investor needs: valuation, financials, news, and how to get exposure today.
Annualized run-rate, USD. Source: company statements & reporting.
Understand the business →Figures as of November 10, 2026. OpenAI is private, so these are private-market figures rather than a public share price.
Founded in 2015 by Sam Altman, Greg Brockman, Ilya Sutskever and others, OpenAI builds ChatGPT and the GPT family of frontier models, used by hundreds of millions of people and over a million organizations. Revenue has gone from a run-rate of roughly $2B in 2023 to about $70B (end Sep 2026).
First close of a round that set out to raise more than $30B and was scaled back after a sell-off in AI stocks. Reported at a $1.25T valuation; CFO Sarah Friar described it as a pre-money figure and the round as still open, with up to about $20B in total expected.
Co-led by SoftBank with a16z, D.E. Shaw Ventures, MGX, TPG, and T. Rowe Price-advised accounts. Strategic partners Amazon ($50B), NVIDIA ($30B), and Microsoft also participated. The largest single private financing on record; at least $35B of the headline figure is contingent.
Converted the for-profit into OpenAI Group PBC, controlled by the nonprofit OpenAI Foundation (which holds equity worth ~$130B). An employee tender offer let staff sell shares at a ~$500B valuation. Microsoft's stake was aligned to the new PBC structure at roughly 27%.
Until the IPO, exposure comes through public proxies (Microsoft, Nvidia) or accredited-investor secondary markets. We break down every route, the trade-offs, and where to start.
Not yet. OpenAI is a private company. It confidentially filed a draft S-1 with the SEC on June 8, 2026, an early step toward an IPO, but no shares trade publicly and no ticker, price, or date has been set. Today you can only get exposure indirectly, via public proxies like Microsoft (MSFT) and Nvidia (NVDA), or through accredited-investor secondary markets.
OpenAI was valued at $1.25T pre-money in its latest funding round, which first closed on November 6, 2026. That puts it back ahead of rival Anthropic, which had overtaken it in May 2026.
OpenAI is private, so it has no public market cap. That figure only exists once a company's shares trade on an exchange. The closest equivalent is the valuation set in its most recent funding round, $1.25T pre-money in November 2026. Treat it as the nearest available proxy rather than a true market capitalization; a real market cap will only exist after an IPO.
OpenAI's annualized revenue run-rate was roughly $70B (end Sep 2026), up from about $40B (end Jul 2026), driven by ChatGPT subscriptions, enterprise deals, and API usage.
No date has been set. A confidential S-1 was filed June 8, 2026. In September 2026 Sam Altman ruled out a listing that year, and in November OpenAI's president Greg Brockman said the company could be ready for an IPO in 2027. Watch for the public S-1, which will reveal audited financials, risk factors, and governance terms.
No. ChatGPT is a product of OpenAI, and OpenAI is private, so there is no ChatGPT stock and no ticker. The nearest thing to a share price is what investors paid in OpenAI's own funding rounds: $992.06 a share in November 2026.