OpenAI Completes $7B Employee Share Buyback at $852B Valuation

OpenAI completed a $7 billion tender offer buying back employee shares at an $852 billion valuation, matching its March 2026 fundraising round. Bloomberg first reported the transaction. OpenAI itself purchased the shares rather than brokering a secondary sale to outside investors. The buyback comes ahead of a potential IPO, for which OpenAI filed confidentially with the SEC in June 2026.