OpenAI stock: is OpenAI public, and what is the OPENAI token?

Is OpenAI public?

No. OpenAI is a private company, so there is no OpenAI stock to buy on an exchange today. It has taken one step toward listing: on 8 June 2026 it said in a post that it had "recently submitted a confidential S-1" and had "not decided on timing yet".^[1]

A confidential filing is invisible to the public. The first document anyone can read is the public S-1 on the SEC's EDGAR system. On 2 Oct 2026 EDGAR held no registration statement filed by OpenAI itself (other companies' filings mention it), and the SEC's list of company tickers had no OpenAI entry.^[2][3]

What OpenAI and its CEO have said

OpenAI's June post said it has not decided on timing, that "it may be a while" because some things it wants to do are likely easier as a private company, and that filing gives it the option to go public sooner if that turns out best.^[1]

On 12 September Altman told Fortune that, given everything happening with safety, now "would be an ill-advised moment to go public", and when asked about 2026 said "I would say not 2026".^[4] At OpenAI's DevDay on 29 September he said he did not "have a particular timeline in mind" and that an IPO becomes possible once OpenAI feels it understands how to handle the next level of AI safely. CFO Sarah Friar said OpenAI wants to list "when the time is right for our business", calling an IPO a milestone rather than a destination.^[5]

OpenAI's valuation and who owns it

OpenAI announced on 31 March 2026 that it had closed a round of $122 billion in committed capital at a post-money valuation of $852 billion. SoftBank co-led it, with Andreessen Horowitz and D. E. Shaw Ventures among the investors. Amazon agreed to invest up to $50 billion, Nvidia $30 billion and SoftBank $30 billion, and $3 billion came from individual investors through bank channels. OpenAI said it made $13.1 billion in revenue in 2025 and was then earning $2 billion a month; CNBC noted it is not yet profitable.^[7]

Ownership is a separate question. OpenAI said when it completed its recapitalization in October 2025 that the nonprofit OpenAI Foundation held 26% of the for-profit OpenAI Group PBC and current and former employees and investors held 47%; Microsoft said it held roughly 27% on an as-converted diluted basis.^[8] Those are October 2025 figures; the 2026 round came after them.

Talks about a bigger round are reported, not confirmed. CNBC reported on 29 September, citing a source, that OpenAI could raise around $30 billion in a round driven by investor demand, with no term sheet yet. Friar declined to comment on fundraising talks, CNBC reported, and pointed to the $122 billion raised in March.^[5]

What the OPENAI token is

OPENAI is a PreStocks token on Solana that follows the price of OpenAI's shares. It is not an OpenAI share: PreStocks' FAQ says its tokens confer no ownership, voting, dividend, information or other legal rights.^[9] PreStocks says its tokens settle in stablecoins or tokenized public stock rather than by transferring shares, and are backed through holding entities such as SPVs.^[10][11]

Tickers aren't unique on Solana, so check the mint above before you trade anything called OPENAI: how to verify a PreStocks token shows how. A token's price can also sit above or below the last round; why that happens explains the gap.

What OpenAI says about tokens like this

PreStocks replied that its live tokens remain fully backed under its terms. The full exchange, and what it means for you, is in is PreStocks safe?.

Other ways people get OpenAI exposure

• Public companies with stakes. Microsoft said it held roughly 27% of OpenAI Group PBC after the October 2025 recapitalization, and CNBC reported that Amazon agreed to invest up to $50 billion in the March round and SoftBank $30 billion.^[8][7] Their shares give indirect exposure mixed with everything else those companies do.
• Registered funds that hold private stock. ARK Venture Fund (ARKVX, at 31 July 2026) and Fundrise's Innovation Fund (VCX, at 31 March 2026) list OpenAI among their holdings.^[17][18] Each has its own fees, redemption limits and eligibility rules, so read the fund's documents first.
• Secondary sales and SPVs. OpenAI says unapproved transfers may invalidate the equity involved.^[15] That is a risk you carry if you buy this way.

PreStocks isn't open to everyone: its terms exclude U.S. persons and people in 36 named jurisdictions.^[19] This page explains; it doesn't recommend buying or selling anything.

What happens to OPENAI tokens if OpenAI lists

PreStocks says that when a company lists, its token becomes convertible into a tokenized version of the public stock, with up to nine months to convert before the token expires worthless.^[9] OpenAI hasn't listed, and PreStocks' OpenAI page showed no IPO or conversion notice on 2 Oct 2026.^[12] The one worked example is SpaceX: what happens to a token at an IPO and how SpaceX holders convert.

What to watch next

1. The public S-1 on EDGAR. Look for a filing whose filer is OpenAI; plenty of other companies' filings mention it. It would be the first official look at the numbers and the share structure.^[2]
2. A funding round. CNBC reported early talks about one; a closed round would give PreStocks a new last-round price to show.^[5]
3. Altman's conditions. CNBC reported that he tied a listing to OpenAI feeling ready on safety and mission, so watch what OpenAI says, not rumors about dates.^[5]
4. A notice from PreStocks. An IPO or conversion notice would appear on its OpenAI page first.^[12]

Changelog