---
id: "2026-03-31-openai-122b-funding-round"
url: "https://postcutoff.com/e/2026-03-31-openai-122b-funding-round/"
as_of: "2026-11-13T13:49:00+01:00"
date: "2026-03-31"
date_precision: day
category: business
importance: 4
confidence: high
status: [Confirmed]
sources: 7
editor: human editor
human_review: null
version: "2026-10-04"
---

As of: 2026-11-13 13:49 CET.
Researched and written by AI agents (Claude Opus 5.5 in Claude Code), with a human editor. How we work: https://postcutoff.com/about/
Canonical page: https://postcutoff.com/e/2026-03-31-openai-122b-funding-round/

# OpenAI closes record $122B funding round at $852B valuation

On March 31, 2026 OpenAI closed the largest private funding round in history — $122B of committed capital at an $852B post-money valuation — led by Amazon ($50B, $35B of it contingent on an IPO or AGI), Nvidia ($30B) and SoftBank ($30B).

## Key facts
- Committed capital: $122 billion; post-money valuation: $852 billion; closed March 31, 2026
- Amazon $50B (of which $35B contingent on OpenAI going public or reaching AGI); Nvidia $30B; SoftBank $30B
- SoftBank paid its $30B in three $10B tranches (Apr 1, Jul 1, Oct 1, 2026 Japan time) via Vision Fund 2; the last one, funded by a senior-notes issue priced Sept 24, completed Oct 1, taking its cumulative OpenAI investment to $64.6B and stake to ~13% (Reuters)
- The Information (Oct 1): Nvidia also made the final $10B payment of its $30B pledge, so the two completed a combined $20B on the same day
- Other participants: Microsoft, Andreessen Horowitz, TPG, T. Rowe Price, MGX, D. E. Shaw
- First time OpenAI raised via bank channels; $3B from individual investors
- Altman said OpenAI does not plan to IPO in 2026
- Sept 16, 2026: Forbes reported OpenAI weighing a new round at up to $1.5T valuation (reports also cite $1.2T) — unconfirmed

## What happened

OpenAI completed a $122B raise at an $852B valuation, with Amazon as the largest investor and a sizable portion of its check tied to an IPO or
AGI milestone. OpenAI opened participation to individual investors via banks for the first time.

## Why it matters

The round funds OpenAI's massive compute build-out (Stargate) and anchors expectations of an eventual IPO; the AGI-contingent tranche makes
"AGI" a contractual financial trigger. The September reports of a $1.2–1.5T round are unconfirmed (medium confidence), and are not the subject of this entry.

## Your AI and this story

- GPT-6 Astra (training cutoff April 2026): in its training data
- Claude Opus 5.5 (training cutoff June 2026): in its training data
- Gemini 4 Hydrogen (training cutoff March 2026): in its training data
- Grok 4.7 (training cutoff May 2026): in its training data

## Sources

1. [SoftBank Group: Follow-on Investments in OpenAI (Feb 27, 2026)](https://group.softbank/en/news/press/20260227) (group.softbank, official)
2. [OpenAI raises $122 billion to accelerate the next phase of AI (OpenAI)](https://openai.com/index/accelerating-the-next-phase-ai/) (openai.com, official)
3. [Reuters via Investing.com: SoftBank completes final phase of $30 billion investment in OpenAI](https://www.investing.com/news/stock-market-news/softbank-completes-final-phase-of-30-billion-investment-in-openai-4928149) (investing.com, press)
4. [The Information: Nvidia, SoftBank make final $20 billion investment in OpenAI's last round](https://www.theinformation.com/briefings/exclusive-nvidia-softbank-make-final-20-billion-investment-openais-last-round) (theinformation.com, press)
5. [CNBC: OpenAI closes record-breaking $122 billion funding round](https://www.cnbc.com/2026/03/31/openai-funding-round-ipo.html) (cnbc.com, press)
6. [Bloomberg: OpenAI valued at $852 billion](https://www.bloomberg.com/news/articles/2026-03-31/openai-valued-at-852-billion-after-completing-122-billion-round) (bloomberg.com, press)
7. [Forbes: OpenAI reportedly weighs new round at up to $1.5 trillion](https://www.forbes.com/sites/siladityaray/2026/09/16/openai-is-reportedly-weighing-new-funding-round-at-15-trillion-valuation/) (forbes.com, press)

## Changes

- 2026-10-01: SoftBank's third $10B tranche (cumulative $64.6B, ~13%) and Nvidia's final $10B completed Oct 1 (Reuters, The Information)
- 2026-09-29 (filed): Created

## Related

- 2026-09-29: [OpenAI's annualized revenue nears $70B](https://postcutoff.com/e/2026-09-29-openai-70b-arr-30b-raise/index.md)
- People: [Sam Altman](https://postcutoff.com/person/sam-altman/)