+76%

est. 2Y upside i

AI & MLSeries D+

AI research company building GPT models and the ChatGPT platform

Rank

#384

Sector

Artificial Intelligence

Est. Liquidity

~2Y

Data Quality

Data: Medium

OpenAI offers high potential upside but with significant risks.

Last updated: July 19, 2026

Bull (20%)+100%

IPO filing and category leadership could drive multiple expansion to 15x, yielding exit over $2.3T, but stage cap limits upside to 100%.

Base (40%)+134%

Revenue grows to $159B with multiple converging to 8x, yielding $1.27T exit, net of dilution gives 134% upside.

Bear (40%)+7%

Multiple compresses to 4x due to competition and losses, exit $635B, after dilution only 7% upside, but above preference stack.

Est. time to liquidity~1.5 years
Adjusted for competitive dynamics: 107% (raw: 76%, adjustment: +31%)

Preference Stack Risk

severe

Funding Intensity

36%

Total funding of $180B represents 36% of secondary market valuation, giving preference stack severe overhang.

Dilution Risk

high

Given $27B annual cash burn and past huge raises, additional dilution of 20%+ is likely within 2 years.

Secondary Liquidity

limited

Secondary market implied $500B valuation vs round $852B, indicating limited liquidity and discount.

Go To Market — 151 roles

Model Deployment for Business — 35 roles

Research — 31 roles

Finance — 27 roles

People — 20 roles

Intelligence & Investigations — 14 roles

IT — 14 roles

Strategic Finance — 11 roles

Product Management — 10 roles

Product Design — 7 roles

Corporate Security — 4 roles

Communications — 3 roles

Partnerships — 3 roles

Product Policy — 3 roles

Product Partnerships — 2 roles

Technical Program Management — 2 roles

Programs — 1 role

Strategy & Operations — 1 role

View all 609 open roles at OpenAI →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on OpenAI's data — designed to show you've done your homework.

  • 1

    “How does OpenAI plan to achieve profitability given $27B projected cash burn in 2026?”

  • 2

    “What is the competitive moat against Google's Gemini and Anthropic's Claude?”

  • 3

    “How does the employee equity pool interact with the massive preferred stack and potential future dilutive rounds?”

Community

Valuation Sentiment

Our model estimates +76% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.