OpenAI's post-money valuation reached $852 billion after a $122 billion funding round closed on March 31, 2026, a 766% jump from roughly $100 billion two years earlier. Secondary-market trading now implies a valuation closer to $475 billion, and OpenAI has confidentially filed for an IPO targeted for 2027.
OpenAI's post-money valuation hit $852 billion following a funding round that closed on March 31, 2026, a 766% increase from the roughly $100 billion the company was worth two years earlier.
A $122 billion round reshapes the field
In early 2024, OpenAI was valued in the $86 billion to $100 billion range. By October 2024, that figure had climbed to $157 billion. Then a $122 billion funding round, one of the largest private capital raises in history, pushed the valuation to $852 billion by the end of March 2026.
Microsoft and Nvidia, both deeply embedded in the AI infrastructure stack, contributed to the momentum.
Revenue trails the valuation
OpenAI's annualized revenue run rate is estimated between $24 billion and $40 billion as of mid-2026, with monthly revenues reportedly hitting around $2 billion earlier in the year. The company remains unprofitable at scale. It reportedly achieved a 17x increase in computing power over the same two-year window.
Secondary markets price in a discount
By September 2026, composite marks from secondary trading suggested an implied valuation closer to $475 billion, a 44% discount to the primary round price. OpenAI confidentially filed for an IPO in June 2026, with a potential public listing targeted for 2027. At the primary valuation, the company trades at roughly 30x to 35x its revenue run rate.
Anthropic closes the gap
Anthropic's valuation reached $965 billion in 2026, exceeding OpenAI's. Its annual revenue run rate hit $47 billion, also higher than OpenAI's.
Source: Crypto Briefing
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