OpenAI has closed its record-setting funding round at $122 billion with an $852 billion valuation, the company announced on Tuesday. The Wall Street Journal reported it is the largest funding round in Silicon Valley history. CFO Sarah Friar told Bloomberg the financing “blows out of the water even the largest IPO that’s ever been done.”
NCT previously reported on March 25 that the round had reached $120 billion. The final close adds $2 billion to that total and reveals several new details about the round’s structure.
Round Structure and Participants
SoftBank co-led the round alongside Andreessen Horowitz, D.E. Shaw Ventures, MGX, TPG, and T. Rowe Price Associates, according to TechCrunch. Amazon, Nvidia, and Microsoft also participated. For the first time, OpenAI extended participation to individual investors through bank channels, raising over $3 billion from retail, PYMNTS reported.
OpenAI will also be included in several ETFs managed by ARK Invest, broadening access to the company’s stock ahead of a reportedly imminent IPO. The company expanded its revolving credit facility to $4.7 billion, backed by a global bank syndicate. The facility remains undrawn, suggesting the expansion is about financial positioning rather than near-term cash needs.
Revenue and Usage Numbers
OpenAI now generates $2 billion per month in revenue, up from $1 billion per quarter at the end of 2024, according to its press release cited by PYMNTS. The company claims it is “growing revenue four times faster than the companies who defined the Internet and mobile eras, including Alphabet and Meta.”
ChatGPT has 900 million weekly active users and 50 million subscribers. The company’s ads pilot, launched weeks ago, has already reached $100 million in annual recurring revenue. On the enterprise side, OpenAI’s APIs process more than 15 billion tokens per minute, and Codex serves 2 million weekly users. Enterprise now accounts for 40% of revenue, up from around 30% last year, and is “on track to reach parity with consumer by the end of 2026,” per TechCrunch.
What This Means for Agent Builders
The press release’s language is notable: OpenAI describes itself as building a “unified AI superapp” combining ChatGPT, Codex, browsing, and agentic capabilities. “Users do not want disconnected tools,” the company wrote. “They want a single system that can understand intent, take action, and operate across applications, data and workflows.”
For teams building on OpenAI’s APIs, the capital infusion signals continued investment in compute infrastructure and model capability. It also signals a company about to face public-market scrutiny on monetization. With enterprise at 40% of revenue and growing, API pricing and terms are the most likely lever. Anyone building production agents on OpenAI should be watching the IPO filing closely.