OpenAI Buys Back $7B in Employee Shares at $852B Valuation

OpenAI completed a $7 billion tender offer, repurchasing employee shares at an $852 billion valuation that matches its March 2026 funding round. Bloomberg first reported the transaction. OpenAI bought the shares directly rather than arranging a secondary sale to outside investors. The buyback precedes a potential IPO, for which OpenAI filed confidentially with the SEC in June 2026.