OpenAI, the developer of ChatGPT, announced on 31 March 2026 that it had closed a funding round of $122bn in committed capital at a post-money valuation of $852bn. The company described it as the largest funding round in Silicon Valley's history.
The round was anchored by strategic partners Amazon, NVIDIA and SoftBank, with Microsoft continuing to take part. SoftBank co-led alongside Andreessen Horowitz, D. E. Shaw Ventures, MGX, TPG and accounts advised by T. Rowe Price Associates, according to Quartz. BlackRock, Blackstone, Sequoia Capital, Thrive Capital and Temasek were among the other institutional investors.
According to Bloomberg, Amazon agreed to invest $50bn and NVIDIA and SoftBank $30bn each. Bloomberg reported that $35bn of Amazon's commitment depends on OpenAI going public or reaching a technological milestone.
“At this stage, we are growing revenue four times faster than the companies who defined the internet and mobile eras, including Alphabet and Meta.”OpenAI, company announcement
How the round grew
OpenAI had announced $110bn in commitments in February. Quartz reported that the extra $12bn came from a wider group of investors, including more than $3bn raised from individual investors through bank channels, the first time OpenAI had opened a round to them in that way. SiliconANGLE put the individual investors' share at almost $3bn.
OpenAI said it would also be included in several exchange-traded funds managed by ARK Invest, giving more private investors exposure to its shares. Separately, the company expanded its revolving credit facility to about $4.7bn with a bank syndicate that includes JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley and Wells Fargo. The facility has not been drawn.
The business behind the valuation
OpenAI said it was generating $2bn in revenue a month. Quartz, citing CNBC, reported that the company had $13.1bn of revenue in 2025 and is not profitable. OpenAI said it had more than 900 million weekly active users and more than 50 million subscribers, and that enterprise customers accounted for more than 40% of revenue, up from 30% a year earlier according to SiliconANGLE.
SiliconANGLE reported that OpenAI's advertising business, launched about six weeks before the announcement, was generating more than $100m in annual recurring revenue. The company also said it had recently released GPT-5.4 and that its APIs process more than 15 billion tokens a minute.
The company said it expected enterprise revenue to reach parity with consumer revenue by the end of 2026. SiliconANGLE wrote that chief executive Sam Altman would face more pressure than ever to justify the valuation, and that the announcement leaned heavily on OpenAI's growth figures.
What the money is for
Bloomberg reported that the money supports OpenAI's push for more chips, data centres and talent. SiliconANGLE noted that the round came as the company was believed to be preparing for an initial public offering.
OpenAI said it was building a single application that would combine ChatGPT, its Codex coding agent, browsing and other tools in one interface. SiliconANGLE reported that the company had decided to shut down its Sora video app to focus on products for businesses and developers.
Company website: openai.com