OpenAI buys back about $7B of employee shares in a tender at an $852B valuation
- Raised
- $7.0B
- Valuation
- $852B
- Place in VP50
- #2
- Sources
- 3
What happened
Bloomberg reported on 10 August 2026 that OpenAI had bought back about $7 billion of shares from current and former employees in a tender offer. The company bought the shares itself rather than tapping outside investors. The deal valued OpenAI at $852 billion, unchanged from its most recent funding round. The Economic Times carried the report on 11 August, saying the details came from two people who spoke on condition of anonymity because the information was not public. CNBC also reported that OpenAI had wrapped a $7 billion share sale ahead of a potential IPO.
The Economic Times said OpenAI raised $122 billion from Big Tech companies and venture capital firms in March, and that the company said in June that it had confidentially filed paperwork for an initial public offering. CNBC noted that secondary sales had become part of OpenAI's pre-IPO strategy, citing a $6.6 billion tender offer at a $500 billion valuation the previous October and a $1.5 billion tender offer in 2024. The sources do not state a per-share price or how much of each employee's holding was sold.
Key points
- OpenAI bought back about $7 billion of shares from current and former employees.12
- The deal valued OpenAI at $852 billion, unchanged from its most recent funding round.12
- OpenAI bought the shares itself rather than tapping outside investors.2
- The March round raised $122 billion; OpenAI said in June it had confidentially filed for an IPO.2
- CNBC cited earlier tenders: $6.6 billion at a $500 billion valuation the previous October, and $1.5 billion in 2024.3
Why it matters
OpenAI repurchased the shares itself at the same $852 billion valuation as its latest round, so the tender did not set a price through outside buyers.
Current and former employees received cash for about $7 billion of stock before any listing. The sources give no per-share price or participation rate.
CNBC described secondary sales as part of OpenAI's pre-IPO strategy and listed earlier tenders, including one at a $500 billion valuation the previous October.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Funding round | Oct 2, 2024 | $157B | $6.6B | Thrive Capital |
| Funding round | Mar 31, 2025 | $300B | $40B | SoftBank |
| Funding round | Feb 27, 2026 | $852B | $122B | a16z, D. E. Shaw Ventures, MGX, SoftBank, T. Rowe Price Associates, Inc., and TPG |
Updated
Fact-check
- OpenAI bought back about $7 billion of shares from current and former employees, reported on 10 August 2026.Matches the event data and research evidence citing [1] Bloomberg and [3] CNBC; all three source pages returned 403 or were blocked for this check, so it rests on the writer's read.Partly verified
- The deal valued OpenAI at $852 billion, unchanged from its most recent funding round.Matches the event data and research evidence citing [1] Bloomberg; [1] and [2] were blocked for this check.Partly verified
- OpenAI bought the shares itself rather than tapping outside investors.Matches the research evidence citing [1] Bloomberg and the writer's read of [2] The Economic Times; both were blocked for this check.Partly verified
- The March round raised $122 billion.Rests on the writer's read of [2] The Economic Times, which was blocked for this check.Partly verified
- OpenAI said in June it had confidentially filed paperwork for an IPO.Rests on the writer's read of [2] The Economic Times, which was blocked for this check.Partly verified
- Earlier tenders were $6.6 billion at $500 billion in October and $1.5 billion in 2024.Rests on the writer's read of [3] CNBC, which returned 403 for this check.Partly verified
Sources
- [1]Bloomberg (opens in a new tab)OpenAI Buys Back $7 Billion of Employee Shares in Tender Offerunchanged from its most recent funding round
- [2]The Economic Times (opens in a new tab)OpenAI buys back $7 billion of employee shares in tender offer
- [3]CNBC (opens in a new tab)OpenAI wraps $7 billion share sale ahead of potential IPOSecondary sales have become part of OpenAI's pre-IPO strategy.
