OpenAI just closed the biggest funding round in Silicon Valley history
The $122 billion funding round values the ChatGPT maker at $852 billion and comes ahead of an IPO expected later this year
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OpenAI closed a $122 billion funding round at a post-money valuation of $852 billion, the largest funding round in Silicon Valley history, the company said. The round was anchored by strategic partners Amazon $AMZN, Nvidia $NVDA, and SoftBank, with continued participation from Microsoft $MSFT.
SoftBank co-led the round alongside Andreessen Horowitz, D. E. Shaw Ventures, MGX, TPG, and accounts advised by T. Rowe Price $TROW Associates. A broader group of institutional investors also participated, including BlackRock $BLK, Blackstone, Sequoia Capital, Thrive Capital, and Temasek, among others.
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The round grew from $110 billion in commitments that OpenAI announced in February. The additional $12 billion came from a wider pool of investors, including more than $3 billion raised from individual investors through bank channels — the first time OpenAI has extended participation that way. OpenAI also said it will be included in several exchange-traded funds managed by ARK Invest.
OpenAI said it is generating $2 billion in revenue per month. The company reported $13.1 billion in revenue last year and remains unprofitable, according to CNBC.
ChatGPT has more than 900 million weekly active users and more than 50 million subscribers, OpenAI said. Enterprise customers now account for more than 40% of revenue and are on track to reach parity with consumer revenue by the end of 2026.
The company also expanded its revolving credit facility to approximately $4.7 billion, supported by a syndicate that includes JPMorgan $JPM Chase, Citi, Goldman Sachs $GS, Morgan Stanley $MS, and Wells Fargo $WFC, among others. The facility remains undrawn.
The funding round comes as OpenAI faces intensifying competition. The company recently narrowed its product focus toward coding tools and enterprise customers after rival Anthropic built a dominant position among developers and business customers, driven by its Claude Code offering. OpenAI shut down its standalone Sora video app and plans to fold video capabilities into ChatGPT directly. Its refreshed Codex coding agent now serves more than 2 million weekly users, up fivefold over the past three months.
OpenAI also said it recently launched GPT-5.4, described as its most capable model, and that its APIs process more than 15 billion tokens per minute. The company said it is building a unified AI application that would bring together ChatGPT, Codex, browsing, and other capabilities into a single interface.
The Wall Street Journal reported that an IPO is expected by the end of the year.