OpenAI Prints $122B, Valuation Now Bigger Than Berkshire Hathaway—Apparently AGI Is Priced In

OpenAI just closed $122 billion in committed capital at an $852 billion post-money valuation, cementing itself as the most valuable startup in history by a very comfortable margin. The round reads like a fantasy football draft of global capital: Amazon, Nvidia, and SoftBank anchored the raise, with Microsoft continuing its cozy arrangement. SoftBank co-led alongside a16z, D.E. Shaw Ventures, MGX, TPG, and T. Rowe Price. Rounding out the all-star roster: BlackRock, Blackstone, Fidelity, Sequoia, Temasek, Coatue, and ARK Invest. For the first time, retail got a seat at the table—over $3 billion came from individual investors through bank channels. That's right, your mom's financial advisor is now all-in on AGI. Diamond hands, but for compute.

Revenue is reportedly hitting $2 billion per month, up from $1 billion per quarter at the end of 2024. ChatGPT is sitting on 900+ million weekly active users with 50+ million paying subscribers. The company claims 6x the monthly web visits and mobile sessions of the next largest AI app, and 4x the total time spent of all other AI apps combined. Enterprise now makes up 40%+ of revenue and is tracking toward parity with consumer by end of 2026. The APIs are processing over 15 billion tokens per minute. Codex, the coding agent, has 2 million weekly users—a 5x jump in three months. To put that in crypto terms, ChatGPT has more weekly active users than most Layer 1s have total wallets. And it's monetizing better too.

OpenAI also expanded its revolving credit facility to ~$4.7 billion, backed by JPMorgan, Citi, Goldman Sachs, Morgan Stanley, and friends. That facility remains undrawn as of March 31, because why tap credit when you can raise equity? It's the Web2 equivalent of having a maxed-out Amex you never use because rich uncles keep wiring you money. The bankers are basically just there for the prestige and the offsite invitations.

The strategic pitch centers on compute as a moat. Infrastructure partnerships span Microsoft, Oracle, AWS, CoreWeave, and Google Cloud. Silicon comes from Nvidia, AMD, AWS Trainium, Cerebras, and a custom chip built with Broadcom. Data centers run through Oracle, SBE, and SoftBank. The company is also working on a "unified AI superapp" combining ChatGPT, Codex, browsing, and agentic capabilities into one surface—because as models get smarter, the bottleneck apparently shifts from intelligence to usability. They're basically building the iPhone of artificial general intelligence. Complete with a walled garden and a 30% tax on developers.

That $852 billion valuation puts OpenAI above all but a handful of public companies globally. For context, it's roughly the market cap of Berkshire Hathaway, and larger than Visa, JPMorgan, or Samsung. Take that, traditional finance. Warren Buffett is either panicking or adding AI exposure through his next