★ Must ReadOpenAI, not yet public, raises $3B from retail investors in monster $122B fund raise
OpenAI has raised $3 billion from retail investors as part of a larger $122 billion funding round led by Amazon, Nvidia, and SoftBank, valuing the company at $852 billion. The inclusion of retail investors in this pre-IPO round is notable, signaling OpenAI's intention to broaden its cap table ahead of a planned public offering. At this valuation, OpenAI now ranks among the world's most valuable private companies, reflecting investor confidence in AI infrastructure and the company's market position. This move suggests an imminent IPO timeline and demonstrates how capital concentration in AI is accelerating, with major tech and chip companies making significant bets on OpenAI's long-term dominance.