OpenAI investors push back

Some OpenAI investors are challenging the company’s $852 billion valuation just two weeks after it closed a new funding round at that price. (reuters.com, openai.com) Reuters reported on April 14 that the pushback centers on OpenAI’s shift toward selling more enterprise products as it tries to fend off Anthropic. OpenAI closed its latest round on March 31, 2026, raising $122 billion in committed capital at an $852 billion post-money valuation. (reuters.com, openai.com) That enterprise push now includes ChatGPT Enterprise, ChatGPT Business, Codex tools, and a new platform called Frontier for building and managing workplace AI agents. OpenAI also published an April 8 note from its chief revenue officer, Denise Dresser, focused on “the next phase of enterprise AI.” (openai.com, openai.com) The argument behind the scrutiny is straightforward: private investors are being asked to pay a far richer price than they did a year ago, while OpenAI is still changing how it packages and sells its products. OpenAI’s previous mega-round, announced on March 31, 2025, raised $40 billion at a $300 billion post-money valuation. (openai.com, openai.com) The company has also been reshaping its business lineup for teams and large customers. ChatGPT Team was renamed ChatGPT Business on August 29, 2025, and OpenAI’s help center says Business and Enterprise plans added new flexible seat types, including Codex-only seats, on April 2, 2026. (openai.com, help.openai.com, help.openai.com) OpenAI has told investors and customers that scale is already there. In its March 31, 2025 funding announcement, the company said ChatGPT was serving 500 million weekly users, and Reuters reported in June 2025 that OpenAI’s annualized revenue run rate had climbed to $10 billion from $5.5 billion in December 2024. (openai.com, reuters.com) The company is also trying to lock in larger corporate relationships. OpenAI has recently highlighted enterprise case studies and partnerships, including deals around ChatGPT Enterprise and Codex, as it pitches itself as core workplace infrastructure rather than just a consumer chatbot. (openai.com, openai.com, openai.com) OpenAI has not publicly signaled any retreat from that strategy. For now, the tension is between a valuation that now sits at $852 billion and investors asking whether enterprise sales can grow fast enough to support it. (openai.com, reuters.com)