OpenAI closes record $122B funding round at $852B valuation
On March 31, 2026 OpenAI closed the largest private funding round in history — $122B of committed capital at an $852B post-money valuation — led by Amazon ($50B, $35B of it contingent on an IPO or AGI), Nvidia ($30B) and SoftBank ($30B).
Key facts
- Committed capital: $122 billion; post-money valuation: $852 billion; closed March 31, 2026
- Amazon $50B (of which $35B contingent on OpenAI going public or reaching AGI); Nvidia $30B; SoftBank $30B
- Other participants: Microsoft, Andreessen Horowitz, TPG, T. Rowe Price, MGX, D. E. Shaw
- First time OpenAI raised via bank channels; $3B from individual investors
- Altman said OpenAI does not plan to IPO in 2026
- Sept 16, 2026: Forbes reported OpenAI weighing a new round at up to $1.5T valuation (reports also cite $1.2T) — unconfirmed
What happened
OpenAI completed a $122B raise at an $852B valuation, with Amazon as the largest investor and a sizable portion of its check tied to an IPO or AGI milestone. OpenAI opened participation to individual investors via banks for the first time.
Why it matters
The round funds OpenAI's massive compute build-out (Stargate) and anchors expectations of an eventual IPO; the AGI-contingent tranche makes "AGI" a contractual financial trigger. The September reports of a $1.2–1.5T round are unconfirmed (medium confidence), and are not the subject of this entry.
Changelog
- 2026-09-29: created
Related events
- Sam Altman rules out a 2026 OpenAI IPO, calling it "ill-advised" given AI safety concerns ★★★
- SoftBank sells more than $11B of junk bonds to fund its OpenAI investment ★★★
Sources (4)
- officialOpenAI raises $122 billion to accelerate the next phase of AI (OpenAI)
- pressCNBC: OpenAI closes record-breaking $122 billion funding round
- pressBloomberg: OpenAI valued at $852 billion
- pressForbes: OpenAI reportedly weighs new round at up to $1.5 trillion
id: 2026-03-31-openai-122b-funding-round · updated 2026-09-29 · open in the interactive timeline