OpenAI just closed the biggest funding round in Silicon Valley history

OpenAI announced it has secured $122 billion in committed capital at a post-money valuation of $852 billion — a raise the company described as the largest funding round in Silicon Valley history. Strategic partners anchoring the round include Amazon $AMZN -0.38%, Nvidia $NVDA +0.93%, and SoftBank, alongside continued participation from Microsof.

The round was co-led by SoftBank alongside Andreessen Horowitz, D. E. Shaw Ventures, MGX, TPG, and accounts advised by T. Rowe Price $TROW +0.33% Associates. A broader group of institutional investors also participated, including BlackRock $BLK +0.96%, Blackstone, Sequoia Capital, Thrive Capital, and Temasek, among others.

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The final tally exceeded the $110 billion in commitments OpenAI had disclosed earlier this year. To close the gap, OpenAI tapped a broader investor base, bringing in more than $3 billion from individual investors via bank distribution channels for the first time. OpenAI also said it will be included in several exchange-traded funds managed by ARK Invest.

The company disclosed monthly revenue of $2 billion and full-year 2025 revenue of $13.1 billion, though it has yet to turn a profit, according to CNBC.

OpenAI reported that ChatGPT now reaches roughly 900 million users on a weekly basis, with its paid subscriber base surpassing 50 million. Enterprise customers now account for more than 40% of revenue and are on track to reach parity with consumer revenue by the end of 2026.

The company also expanded its revolving credit facility to approximately $4.7 billion, supported by a syndicate that includes JPMorgan $JPM -0.77% Chase, Citi, Goldman Sachs $GS +0.33%, Morgan Stanley $MS -0.22%, and Wells Fargo $WFC +0.04%, among others. The facility remains undrawn.

The funding round comes as OpenAI faces intensifying competition. The company recently narrowed its product focus toward coding tools and enterprise customers after rival Anthropic built a dominant position among developers and business customers, driven by its Claude Code offering. OpenAI shut down its standalone Sora video app and plans to fold video capabilities into ChatGPT directly. Its refreshed Codex coding agent now serves more than 2 million weekly users, up fivefold over the past three months.

OpenAI also said it recently launched GPT-5.4, described as its most capable model, and that its APIs process more than 15 billion tokens per minute. The company said it is building a unified AI application that would bring together ChatGPT, Codex, browsing, and other capabilities into a single interface.

The Wall Street Journal reported that an IPO is expected by the end of the year.

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