OpenAI (Pre-IPO) 

OPENAI Price

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What is OpenAI (OPENAI)?

OpenAI (OPENAI) is the ticker for a synthetic Pre-IPO perpetual contract that tracks the anticipated public-market valuation of OpenAI Group PBC. OPENAI is not OpenAI stock — holders gain price exposure to an expected valuation and receive no shares and no equity rights. Binance listed the OPENAIUSDT Pre-IPO Perpetual on 26 May 2026, and per DropsTab data OPENAI sits within the TradFi category. OpenAI Group PBC is the for-profit public benefit corporation formed in OpenAI's October 2025 restructuring, with the nonprofit OpenAI Foundation retaining board control.

Is OPENAI the same as owning OpenAI stock?

OPENAI is not equivalent to owning OpenAI stock. The OPENAIUSDT contract is a synthetic derivative — the OPENAIUSDT contract confers no shares, no voting rights, and no claim on OpenAI Group PBC's cap table. OpenAI shares cannot currently be bought by the public, since OpenAI Group PBC remains privately held ahead of any IPO. A trader holding OPENAI has price exposure to OpenAI's expected valuation, while an equity holder would own a registered stake in the company itself — a legal distinction that persists even after an IPO.

What is the OpenAI Stock Price?

OpenAI has no official stock price — OpenAI Group PBC is privately held and has not completed an IPO. The figure shown for OPENAI is the mark price of a perpetual contract, not an exchange-listed share price. The most recent concrete valuation anchor is OpenAI Group PBC's $852B post-money valuation, set by a $122B funding round closed on 31 March 2026. Live OPENAI contract pricing updates dynamically on this page.

How is the OPENAI Pre-IPO Perpetual price determined?

The OPENAI mark price is derived from market sentiment and publicly announced pricing signals, because no continuously traded spot reference exists before OpenAI lists publicly. This makes the OPENAI contract price an expectation-driven figure rather than a settled equity quote. Once OpenAI completes an IPO, the contract is designed to transition to tracking live market performance. Binance's listing disclosure warns that volatility may be high after listing and that the OPENAI contract price may remain below the eventual IPO price.

What was OpenAI's last private valuation?

OpenAI Group PBC's last disclosed private valuation was $852B post-money, established when OpenAI closed a $122B funding round on 31 March 2026 — the largest private funding round on record. That round expanded an earlier financing announced on 27 February 2026 at a $730B pre-money valuation. This $852B figure is the primary valuation reference for the OPENAI contract, since it is the most recent transaction-based mark before any public listing sets a market price.

How Does the OPENAI Pre-IPO Perpetual Work?

The OPENAIUSDT Pre-IPO Perpetual is a USDT-margined synthetic contract that lets traders take leveraged positions on OpenAI's expected valuation without owning equity. Binance offers maximum leverage of 20x, 24/7 trading, and a 5 USDT minimum entry. Funding is settled every 8 hours, with the funding rate moving to a ±2.00% band after the initial listing period. The contract has no expiry — the contract holds open exposure indefinitely until closed, delisted, or settled.

Where can the OPENAI perpetual be traded?

The OPENAI perpetual trades on Binance Futures, the venue where the OPENAIUSDT contract was first listed, with a smaller share of volume on Bitunix Futures. Liquidity is concentrated almost entirely on one venue, which centralizes counterparty and platform risk for OPENAI positions. There is no spot market and no decentralized exchange (DEX) listing for this contract. Traders relying on a single dominant venue face execution and exit risk if that venue restricts the product or pauses trading.

What are the risks of the OPENAI Pre-IPO Perpetual?

The OPENAI Pre-IPO Perpetual carries leverage, funding, and settlement risk that a cash equity position does not. The 20x leverage ceiling means a small adverse price move can trigger liquidation, and the ±2.00% funding band after the initial period imposes a steep recurring cost on held positions. Because no spot reference exists pre-IPO, the OPENAI mark price can diverge sharply from OpenAI's eventual IPO price. A retail-accessible leveraged contract on an unlisted company also faces unresolved regulatory exposure in several jurisdictions.

OpenAI IPO: What Traders Are Watching

OpenAI Group PBC confidentially filed a draft S-1 registration with the SEC on 22 May 2026, with Goldman Sachs and Morgan Stanley leading the process and a public listing targeted for Q4 2026. Reported valuation targets for the OpenAI IPO range up to $1 trillion, against the $852B private valuation anchor. The OpenAI IPO is not guaranteed: if the listing is delayed or cancelled, Binance provides advance delisting notice and settles the OPENAIUSDT contract through a transparent process, and may convert it into a standard TradFi perpetual.

When is the OpenAI IPO?

OpenAI has not confirmed a fixed IPO date. OpenAI Group PBC filed a confidential draft S-1 with the SEC on 22 May 2026, and reporting points to a public listing targeted for Q4 2026, possibly as early as September 2026. A confidential filing keeps detailed financials sealed until roughly 15 days before the roadshow, so the timeline can still slip into 2027. Until OpenAI completes a listing, the OPENAI contract remains a Pre-IPO instrument with no settled underlying share price.