OpenAI Completes $7 Billion Employee Share Buyback Valuing Company at $852 Billion

OpenAI completed a roughly $7 billion secondary sharesale that let current and former employees cash out, valuing the company at $852 billion, as the ChatGPT maker keeps its SEC-filed IPO plans under wraps.

“OpenAI just wrapped up a roughly $7 billion secondary sharesale, giving current and former employees a chance to cash out at an $852 billion valuation”

Finimize

The deal was structured as a tender offer, with OpenAI buying back shares from employees rather than tapping outside investors, and Bloomberg reported that the valuation was unchanged from OpenAI’s most recent funding round.

Bloomberg Línea

Finimize Pro CNBC said the tender offer followed OpenAI’s $122 billion funding round in March and described the $852 billion price as a “shadow IPO anchor” for a company that still does not trade daily.

The Edge Malaysia, citing Bloomberg, said OpenAI bought back shares “ahead of a possible Wall Street debut,” while OpenAI declined to comment on the transaction.

Multiple outlets tied the employee liquidity event to OpenAI’s confidential IPO filing with the Securities and Exchange Commission in June, but they also emphasized that no timeline had been disclosed.

Finimize Pro CNBC said OpenAI “confidentially filed an IPO prospectus with the Securities and Exchange Commission in June but hasn’t shared a timeline,” framing the tender offers as a stand-in for a public-market exit while plans remain quiet.

Briefs Finance

The Tech Buzz reported that OpenAI filed confidentially with the Securities and Exchange Commission in June to prepare for a potential IPO later this year, yet said “a tender offer suggests that an IPO may not be forthcoming soon.”

In parallel, Cadena 3 Argentina said the repurchase offer “suggests that an IPO may not be imminent,” even as it noted the June confidential submission to the U.S. Securities and Exchange Commission for a possible IPO later in the year.

The buyback and IPO uncertainty are playing out alongside OpenAI’s rivalry with Anthropic, which Bloomberg Línea said has gained momentum, vaulted ahead of OpenAI in valuation, and is “en condiciones de salir a bolsa antes que OpenAI.”

“está en condiciones de salir a bolsa antes que OpenAI”

Bloomberg Línea

Finimize Pro CNBC described how repeated tender offers can create a widely watched reference price for a private company, but said the eventual public-market debut will be a “first real stress test” that may involve demands for a discount due to uncertainty and disclosure gaps.

The Tech Buzz added that CEO Sam Altman wrote, “we did not have our best 12 months ever, which is mostly my fault, but we are about to have our best 12 months to date,” and it linked the tender to a need to put OpenAI’s “best face forward.”

TradingKey also said OpenAI is projecting substantial losses through 2026 and does not expect positive cash flow until 2029–2030, making the public-market validation of the $852.0 billion valuation a key test for the next phase.