OpenAI recently announced the completion of a new funding round totaling $122 billion, pushing its valuation to $852 billion. As the company’s largest financing to date, this move significantly boosts its financial reserves for AI chip development, data center construction, and talent acquisition, and is seen as a crucial precursor to its planned IPO this year.
This funding round was led by SoftBank, Andreessen Horowitz, DE Shaw Ventures, MGX, TPG, and T. Rowe Price Associates, with participation from tech giants including Amazon, NVIDIA, and Microsoft. Additionally, approximately $3 billion in funding came from individual investors, and the inclusion of multiple ARK Invest ETFs further expanded its pre-IPO shareholder base.
While strengthening its capital structure, OpenAI has expanded its revolving credit facility to $4.7 billion, backed by multiple top global banks. Although the facility has not yet been drawn upon, its issuance—alongside a financing announcement styled like an S-1 filing—demonstrates the company’s financial flexibility amid surging costs for computing infrastructure. Financial data shows that OpenAI’s monthly revenue has reached $2 billion, growing at a pace far exceeding that of early-stage Alphabet and Meta. Its weekly active users have surpassed 900 million, with over 50 million subscribers and search usage tripling year-over-year.
In terms of business structure, OpenAI’s advertising pilot program generated over $1 billion in annual recurring revenue within six weeks, with B2B revenue now accounting for 40% of total income. Leveraging its latest model, GPT-5.4, to power agent workflows, the company expects B2B revenue to match consumer revenue by the end of 2026. OpenAI is actively working to build an “AI super-app” to dominate the core interaction interface. The completion of this funding round marks OpenAI’s transition from a single-focus technology development model to fully constructing a public market narrative, with its business strategy smoothly shifting from early-stage expansion to stable expectations of a public listing.