OpenAI has closed $122 billion in committed capital at an $852 billion post-money valuation, shattering every record for private market fundraising. The round was anchored by Amazon, Nvidia, and SoftBank, with continued participation from Microsoft.

The investor list spans the biggest names in global capital: BlackRock, Blackstone, Fidelity, Sequoia, Temasek, Coatue, ARK Invest, a16z, D.E. Shaw Ventures, MGX, and TPG all participated. For the first time, OpenAI also opened participation to individual investors through bank channels, raising over $3 billion from retail alone.

Scale of the Machine

The numbers behind OpenAI's business are staggering. Revenue now exceeds $2 billion per month, up from $1 billion per quarter at the end of 2024. ChatGPT has surpassed 900 million weekly active users with over 50 million paying subscribers. Its APIs process more than 15 billion tokens per minute.

Enterprise revenue accounts for over 40% of the total and is on track to match consumer revenue by end of 2026. Codex, the company's coding agent, serves over 2 million weekly users, a 5x jump in three months.

What the Capital Buys

OpenAI framed the raise around compute as a strategic moat. Its infrastructure now spans cloud partnerships with Microsoft, Oracle, AWS, CoreWeave, and Google Cloud, custom silicon through Nvidia, AMD, Cerebras, and its own Broadcom-designed chip, and data centers through Oracle, SBE, and SoftBank.

The $852 billion valuation puts OpenAI roughly on par with Berkshire Hathaway and above JPMorgan Chase, Visa, and Samsung in market cap terms.