#PreIPOsSeason2OpenAISubscription

Gate Pre-IPOs Season 2 for OpenAI (OPENAI) subscribers will open on July 15, 2026, at 3:00 PM.
* Subscription End: July 17, 2026, 3:00 PM
* Pre-Market Trading: July 20, 2026, 3:00 PM
Subscription Details and Participation Requirements
* Total Distribution: 27,700 OPENAI mirror notes.
* Unit Price: A subscription package or stock costs $722.
* Accepted Currencies: You can invest using Tether ($USDT ) or Gemini Dollar ($GUSD ).
* Additional Benefits: Shareholders will receive GateToken (GT) airdrop rewards and 3.8% minting interest returns from GUSD. Users VIP5 and above, as well as super agents, are entitled to additional free airdrops.
The $722 subscription price offered on Gate Pre-IPOs Season 2 directly aligns with OpenAI’s latest market valuation.
For pre-market products published with a similar mirror-note structure and based on OpenAI’s direct performance, a price of about $725 has been calculated to indicate an implied market valuation of about $898 billion. This shows that Gate’s $722 price targets a total company valuation of about $890–$898 billion for OpenAI.
To understand whether this pricing is fair, the current official data and forward expectations are as follows:
Comparison with Official Funding Valuation
* Last Official Funding (March 2026): OpenAI completed the largest funding round in its history with participation from giants such as Amazon, Nvidia, and SoftBank, reaching a post-money valuation of $852 billion. Gate’s offered price only reflects a 4% to 5% premium over that official institutional valuation, which is fairly reasonable for a pre-IPO secondary market.
* IPO Target: OpenAI CEO Sam Altman has set a minimum of $1 trillion as the red line for the company’s IPO. The company plans to run the official application process in the second half of 2026 and target listing at that level in 2027.
If OpenAI goes public with a valuation of $1 trillion or more as planned, investors entering at the $722 subscription price (at about a ~$895 billion valuation) could potentially achieve net profits on IPO day.
Risk and Opportunity Balance from an Investment Perspective
* Advantage of Reasonable Pricing: The pricing is set slightly above the value of the multi-billion-dollar institutional round (March 2026 data), which individual investors typically cannot follow, representing a major opportunity for retail investors. In addition, the 3.8% GUSD minting interest yield and the GT airdrop rewards offered help offset this entry cost.
* Risk of Costs and Losses: Although OpenAI’s annual revenue is growing rapidly and is approaching the $25–33 billion range, the company is still burning cash due to very large data center and infrastructure expenditures (2025 operating loss of about $21 billion). Any potential delay in the IPO schedule could add pressure to this pricing.
To analyze the implied valuation model of this security against that financial backdrop:
* What minimum return (X times returns or percentage) do you expect during the IPO?
* For how long are you willing to hold your investment without redeeming it (locked in)?
* Are you considering building a USDT and GUSD portfolio to diversify your risk in this subscription?