Revenue ~$2B/month at round close; ~34x revenue multiple. An ~$7B employee/former-employee secondary tender at the existing $852B valuation closed Aug 2026 (no new capital, no valuation change). Confidential S-1 filed with the SEC. CEO Sam Altman told Fortune/Bloomberg on 2026-09-12 that OpenAI will not go public in 2026 and declined to commit to 2027 either, citing AI-safety timing rather than financial readiness -- CFO Sarah Friar had separately guided employees to '2027 or sooner.'
| Round | Date | Valuation | Lead |
|---|---|---|---|
| Employee secondary | 2025-10-01 | $500.0B | not disclosed — buyer group named (Thrive Capital, SoftBank, Dragoneer Investment Group, MGX, T. Rowe Price) but no single lead designated in press |
| Mega-round | 2026-03-31 | $852.0B+70% | SoftBank (co-led alongside Andreessen Horowitz, D.E. Shaw Ventures, MGX, TPG, and T. Rowe Price Associates) |
No upcoming rounds currently reported.
| Status | S-1 Filed |
|---|---|
| Banks | Goldman Sachs, Morgan Stanley (Citi/JPMorgan reportedly in talks to join) |
| Target val. | $1.0T |
| Notes | Reported target is 'near/above $1T,' aiming to raise ~$60B -- but CEO Sam Altman said (Sep 12 2026) OpenAI will not go public in 2026 and declined to commit to 2027 either, citing AI-safety timing rather than market readiness. CFO Sarah Friar had separately guided employees to '2027 or sooner.' |
| Source | CNBC, Jun 8 2026; Bloomberg/Fortune, Sep 12 2026 |
These are cited news signals only, not a PrePost prediction — year/valuation forecasting is on the roadmap but not live yet.
Transparent, formula-based composite (not machine-learned) of five signals: raise velocity, round acceleration, secondary premium/discount vs. the last primary round, up-round streak, and freshness of the last known mark.