# OpenAI's $122bn round at $852bn anchors the pre-IPO war chest
> SoftBank, Nvidia and Amazon lead one of the largest private raises ever; APIs now clear 15bn tokens/minute

**Meta:** type: event · date: 2026-03-31 · heads: Whose Money, The Long Game · 4 takes · 3 lenses · 1 regions

## Summary

[Openai](/en/entity/openai) closed its latest funding round on 31 March 2026 with $122bn committed at an $852bn post-money valuation, co-led by [Softbank](/en/entity/softbank) with a16z, D.E. Shaw, MGX, TPG and T. Rowe Price, and strategically anchored by [Nvidia](/en/entity/nvidia), [Amazon](/en/entity/amazon) and continuing investor [Microsoft](/en/entity/microsoft). The round, first closed at $110bn in February before upsizing, funds compute and the agentic product push. OpenAI says its APIs now process more than 15bn tokens/minute, Codex serves over 2m weekly users (up 5x in three months), and enterprise exceeds 40% of revenue. The war chest set up the [June confidential IPO filing](/en/n/openai-confidential-ipo-trillion-2026).

## By the numbers

- $122bn, committed capital (upsized from $110bn).
- $852bn, post-money valuation.
- 15bn+, tokens/minute across OpenAI APIs.
- 2m+, weekly Codex users, up 5x in three months.
- >40%, enterprise share of revenue.

## Why it matters

The round is the financial base under OpenAI's compute commitments and its IPO timetable. SoftBank's lead and the Nvidia/Amazon anchors knit OpenAI into the same hyperscaler-and-chip dependencies as [Anthropic](/en/entity/anthropic), while the token-throughput and Codex metrics are the operational case for the valuation.

## What to watch

- How much of the $122bn is cash vs. compute-linked commitment.
- Whether the metrics hold into the IPO disclosure.
- SoftBank's exposure if a listing slips past Q4.

## Regional takes (batched by bias / lens)

### unlabelled
- **OpenAI (funding announcement)** (United States, en) — OpenAI's own post on raising committed capital to accelerate the next phase of AI; names strategic partners and frames the round as funding compute and the agentic product push.
  Source: https://openai.com/index/accelerating-the-next-phase-ai/
- **Sacra** (United States, en) — 
  Source: https://sacra.com/c/openai/

### markets / financial
- **CNBC** (United States, en) — Reports OpenAI closing at an $852bn post-money valuation with $122bn committed, co-led by SoftBank with a16z, D.E. Shaw, MGX, TPG and T. Rowe Price; Nvidia, Amazon and Microsoft anchor strategically.
  > "OpenAI closed its latest round at an $852 billion valuation, one of the largest private funding rounds in history."
  Source: https://www.cnbc.com/2026/03/31/openai-funding-round-ipo.html

### tech / scale
- **TechCrunch** (United States, en) — Earlier report on the round's first close at $110bn before it was upsized to $122bn; notes the capital is earmarked for compute and the Stargate build-out.
  > "OpenAI raised $110B in one of the largest private funding rounds in history."
  Source: https://techcrunch.com/2026/02/27/openai-raises-110b-in-one-of-the-largest-private-funding-rounds-in-history/

## Across the graph
- Related: [[openai-confidential-ipo-trillion-2026]], [[anthropic-series-h-ipo-2026]], [[uae-g42-stargate-nvidia]]
- Entities: Openai, Softbank, Nvidia, Microsoft, Amazon, United States

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Canonical: https://rbtfl.xyz/en/n/openai-122bn-softbank-round-2026