OpenAI

OpenAI Stock and Valuation

AI / Large Language Models
By Alex Liu | Last updated: March 2026
Founded
2015
HQ
San Francisco, CA
Employees
~3,500
CEO
Sam Altman
UpMarket Estimate
$924.00B
Based on UpMarket valuation model
Last Round Valuation
$840.00B
Series C, Mar 2026
Share Price
$687.69
COI filing, Feb 2026

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OpenAI Trend Score🔥 95.0 Blazing

OpenAI is an artificial intelligence research company founded in 2015 by Sam Altman and others, building the GPT family of large language models and ChatGPT (920 million weekly active users). The company generated over $20 billion in annualized recurring revenue in 2025, growing 3x year-over-year (OpenAI). Valued at $840 billion in its March 2026 Series C ($110 billion raised), OpenAI stock is not yet publicly traded but an IPO is expected in 2026. Accredited investors can access OpenAI pre-IPO shares through UpMarket, a FINRA-registered broker-dealer, with a $50,000 minimum investment.

OpenAI Valuation History

EventDatePrice/ShareValuation
Series A-1aJul 2019$67.00-
Series A-1bJul 2019$150.00-
Series A-2Jul 2021$187.86-
Series A-3Jul 2021$306.86-
Series BOct 2024$47.14$157B
Series CFeb 2026$687.69$840.0B

Source: Sacra, Crunchbase, COI filings. OpenAI's complex share structure includes multiple sub-series. Prices vary by share class.

OpenAI Revenue and Growth

$28M
2022
$2B
2023
$3.4B
H1 '25 run
$10B
Jun 2025
$12B
Jul 2025
$20B+
End 2025
~$25B
Mar 2026E
3x
Annual Revenue Growth
920M
Weekly ChatGPT Users
$110B
Series C Raised

Source: OpenAI, Fortune, Crunchbase. ARR progression. Estimates not audited.

Why Investors Are Watching OpenAI

$840B
Valuation
$20B+
ARR
920M
Weekly Users
$100B
Revenue Target 2027
IPO
IPO Expected 2026
Hired former DocuSign CFO Cynthia Gaylor as investor relations chief. Refocusing on enterprise and coding products ahead of a public listing.
CNBC · Mar 17, 2026
Fundraise
$840B Valuation, $110B Raised
The largest private fundraise in history. Series C at $687.69/share. Investors include SoftBank, Thrive Capital, a16z.
Crunchbase, Sacra · Mar 2026
Partnership
$10B PE Joint Venture
TPG, Brookfield, and Bain Capital forming joint venture to drive enterprise AI adoption across their portfolio companies.
Bloomberg · Mar 16, 2026
Contract
AWS Government Deal
New contract to sell AI to U.S. government for classified and unclassified work through Amazon Web Services.
TechCrunch, The Information · Mar 17, 2026
Revenue
$20B+ ARR, 3x YoY Growth
Revenue tripled from $6B in 2024. 10x from $2B in 2023. Targeting $29.4B in 2026 and $100B by 2027.
OpenAI, Fortune · Jan 2026
Growth
920M Weekly Active Users
ChatGPT dominance across consumer and enterprise. Sora video generation integration coming.
OpenAI
Acquisition
Promptfoo Acquisition
Acquired cybersecurity startup focused on AI agent safety and red-teaming. Strengthens enterprise trust and security story.
Bloomberg, TechCrunch · Mar 9, 2026
Legal
Musk Lawsuit: $109B Claim
Trial set for Apr 27. Judge weighing damages in Elon Musk's suit alleging OpenAI broke its nonprofit mission.
The Information · Mar 13, 2026

Private market investments carry meaningful risks, including illiquidity and possible total loss of capital.

How to Invest in OpenAI Through UpMarket

OpenAI shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.

1
Verify accredited investor status

$200K+ annual income ($300K jointly) or $1M+ net worth excluding primary residence.

2
Create an UpMarket account

Sign up at upmarket.co. Digital process, under 10 minutes. FINRA-registered broker-dealer, 1,000+ investors since 2019.

3
Review available offerings

Individualized due diligence, Caplight market data, Sacra research, UpMarket valuation estimate.

4
Complete subscription documents

PPM review, fee analysis, and portfolio-fit evaluation support.

5
Fund your investment

Minimum typically $50,000. Wire or ACH. Monitor via UpMarket portal.

Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.

About UpMarket

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We provide access to a range of asset classes and investment strategies that span private equity, hedge funds, crypto, real estate, and other alternative assets.

The problem

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The solution

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*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through December 31, 2025. Of the total, approximately $146 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.

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We aim to offer our clients investments from disciplined managers that pursue unique strategies across an array of asset classes.

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Unlock the private markets today, with UpMarket.

OpenAI Stock FAQ

Is OpenAI publicly traded?
No. As of March 2026, OpenAI is private. An IPO is expected by the end of 2026. The company has hired investor relations chief Cynthia Gaylor (former DocuSign CFO). OpenAI stock is available to accredited investors through secondary market platforms like UpMarket.
When is OpenAI going public?
An IPO is expected by end of 2026. OpenAI has hired investor relations leadership and is refocusing on enterprise products ahead of a potential listing.
What is OpenAI's stock price?
Series C price: $687.69/share (COI filing, Feb 2026 per Sacra). At the UpMarket estimate of $924B and assuming ~1.49B shares, approximately $620/share.
Who owns OpenAI?
Sam Altman (CEO), Microsoft (largest investor), Thrive Capital, a16z, SoftBank, Tiger Global, Khosla Ventures, Founders Fund, Sequoia Capital. OpenAI is converting from its original nonprofit structure to a for-profit entity.
What does OpenAI build?
GPT large language models, ChatGPT (920M weekly active users), Sora (video generation), DALL-E (image generation), Whisper (speech recognition), an API platform for developers, and Codex (coding). Also building the Frontier platform for enterprise customers.
Can I buy OpenAI shares on UpMarket?
Yes. Fill out the form above or sign up directly. Subject to availability. Accredited investors only.
What are the risks of investing in OpenAI pre-IPO?
Illiquid, no guaranteed exit. High cash burn relative to revenue. Competition from Anthropic, Google, Meta, xAI. Regulatory uncertainty around AI. Ongoing litigation (Musk lawsuit). Converting corporate structure. Consult your own advisors before investing.
How do pre-IPO trades work?
Accredited investors purchase from existing shareholders through secondary market platforms. OpenAI does not issue new shares in these transactions.
How do I exit my investment?
Sell on secondary market or hold until IPO. With an IPO expected in 2026, a public exit path may become available, though timing is never certain.
What is the minimum investment in OpenAI on UpMarket?
The minimum for most OpenAI offerings is $50,000. May vary by offering and share class. No fees to create an account.
How does UpMarket estimate OpenAI's valuation?
Proprietary model using ~42x multiple on revenue trajectory, funding round data (Caplight), revenue data (Sacra), secondary market pricing, and public company comparables. Current estimate: $924.00 billion. For informational purposes only.
What is OpenAI's revenue?
$28M in 2022. $2B ARR in 2023. $6B ARR in 2024. Over $20B ARR by end of 2025, tripling year-over-year. Targeting $29.4B in 2026 and $100B by 2027 (Sam Altman).
What is ChatGPT?
An AI chatbot built on OpenAI's GPT models, with 920 million weekly active users. Products include ChatGPT Free, Plus ($20/mo), Team, and Enterprise tiers. Recently added visual tools, Quizlet integration, and expanded coding capabilities.
What is the Musk lawsuit about?
Elon Musk, who co-founded OpenAI and left in 2018, is suing for $109 billion. He claims OpenAI abandoned its nonprofit mission by partnering with Microsoft and pursuing profits. Trial is set for April 27, 2026. OpenAI disputes the claims.
Who are OpenAI's competitors?
Anthropic ($380B valuation, $14B ARR, Claude AI), Google DeepMind (Gemini), Meta (Llama open-source models), xAI (Grok, founded by Elon Musk), Mistral AI (European AI lab).

OpenAI Leadership Team

Sam Altman
CEO & Co-Founder
Y Combinator president before OpenAI. Navigated the board crisis in 2023 and led the company through its rapid commercial growth phase.
Brad Lightcap
COO
Oversees business operations and enterprise partnerships. Key figure in OpenAI's commercial expansion.
Sarah Friar
CFO
Former Nextdoor and Square CFO. Leading financial strategy and IPO preparation.
Mira Murati
Former CTO
Led GPT-4 and Sora development. Departed October 2024.
Kevin Weil
Chief Product Officer
Former Instagram VP of Product. Leads ChatGPT product direction and consumer growth.
Mark Chen
SVP of Research
Leading GPT model development and safety research across OpenAI's research org.
Key Investors
MicrosoftThrive Capitala16zSoftBankTiger GlobalKhosla VenturesFounders FundSequoia Capital

Companies Related to OpenAI

Anthropic
Artificial Intelligence
Primary competitor. $380B valuation. Claude AI.
SpaceX
Aerospace & Defense
Fellow pre-IPO giant. Top UpMarket offering.
xAI
Artificial Intelligence
Elon Musk's AI lab. Grok chatbot. Acquired by SpaceX.
ByteDance
Consumer Tech
Consumer tech pre-IPO. $550B valuation.
Google (GOOGL)
Technology
DeepMind/Gemini competitor. $2T+ market cap.
Microsoft (MSFT)
Technology
Largest OpenAI investor. $3T+ market cap.

Bottom Line: OpenAI Stock

OpenAI has become the defining AI company of this era, with ChatGPT reaching 920 million weekly active users and annual recurring revenue exceeding $20 billion in 2025, tripling year-over-year (OpenAI). The company raised $110 billion at an $840 billion valuation in March 2026, the largest private fundraise in history.

With an IPO expected by end of 2026, a $10 billion PE joint venture in progress, and revenue targeting $100 billion by 2027 (Sam Altman), OpenAI represents the highest-profile pre-IPO company in artificial intelligence.

Accredited investors can access OpenAI shares through UpMarket, a FINRA-registered broker-dealer that has brokered over $1 billion in alternative investments since 2019. All private market investments involve risk, including potential loss of principal. Past performance is not indicative of future results.

I want to buy OpenAI stock ↑

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