Gate Pre-IPOs Round 2 Focuses on OpenAI: Capital Opportunities in the AI Era Are Arriving Earlier Than IPOs

Over the past few decades, the development of technology companies has generally followed a fairly clear path: technology R&D, product commercialization, user growth, and scale expansion—eventually entering the public markets through an IPO so that more investors can participate in a company’s growth process. For traditional tech giants such as Microsoft, Google, and Meta, listing has long been an important milestone widely recognized by the market.

But the development of the artificial intelligence industry is changing this pattern. New-generation AI companies represented by OpenAI have already attracted substantial attention before formally entering the public markets, thanks to technological breakthroughs, product impact, and the formation of an industry ecosystem. A company’s value no longer depends entirely on market trading after it goes public; it begins to take shape even before listing.

This shift is closely related to the pace of development in the AI industry. The iteration speed of AI technology far exceeds that of traditional industries. Leading companies often build global influence in a relatively short time and draw significant capital attention. As a result, the market’s assessment of these companies has gradually shifted from current profitability to their future position within the industry.

Gate Pre-IPOs, the second phase program featuring OpenAI (OPENAI), is about to open for subscription—precisely for this reason it has attracted market attention. Through an asset certificate format prior to listing, the program enables users to track how the value of AI leaders changes before they reach the public markets.

Why OpenAI Became the Most-Watched Super Unicorn in the AI Era

OpenAI’s market influence largely comes from the industry changes brought by ChatGPT. With the emergence of ChatGPT, generative AI quickly moved from lab technology into mainstream applications, and this has also prompted companies to reassess the role of artificial intelligence in improving production efficiency, software services, and digital transformation. In a short period of time, AI has evolved from a technology trend into one of the key directions of competition across the global technology industry.

But OpenAI’s value is not limited to a single product.

As AI applications deepen their penetration into enterprise scenarios, large models are becoming a new technological infrastructure. Companies want to use AI to improve office efficiency, optimize business processes, and develop more intelligent services. This gives companies that master advanced model capabilities greater ecosystem influence.

From a market perspective, OpenAI is closer to a platform-type technology company rather than a traditional software company. It connects model R&D, the developer ecosystem, enterprise applications, and the future intelligent services market. Therefore, the valuation logic in the capital market for OpenAI is also more heavily based on long-term industry value.

According to current market information, OpenAI has received continued investment support from global technology companies such as Microsoft, and the market remains highly focused on its future development. Currently, the project implies OpenAI’s implied market capitalization of approximately 89.5 billion USD. This reflects the market’s recognition of the long-term potential of AI leaders.

From IPOs to Pre-IPOs: Value Discovery Is Happening Earlier

As the growth rate of super tech companies accelerates, the role of IPOs in capital markets is changing.

In the past, when a company went public, it meant entering the public markets. Investors participated in the company’s future growth through stock trading. But for a company like OpenAI, market attention occurs in advance. Before listing, the company has already gone through multiple stages such as fundraising, technological development, user growth, and ecosystem building. A significant portion of value has already formed during the private market stage. In this context, IPOs have become more of a connecting process to the public markets rather than the first moment of value discovery.

This is also an important reason why Pre-IPOs have attracted attention.

Pre-IPOs focus on the company’s development stage before it goes public. At this stage, companies typically already have strong market influence, but they have not yet fully entered the environment of public trading. For investors, this stage represents an important window for observing company growth and changes in market expectations.

In the past, pre-listing investment opportunities were mainly concentrated in venture capital firms, large funds, and strategic investors. With the development of digital assets and financial innovation tools, the market has started exploring more open ways to help more participants understand how a company’s value changes before it lists.

Why Market Expectations for OpenAI Before Listing Keep Warming Up

OpenAI draws attention from the capital markets not only because it might go public, but also because it represents the future direction of the AI industry.

At present, global AI competition is moving from the technology R&D stage into the commercialization expansion stage. Companies are paying attention not only to model capabilities, but also to whether AI can truly change the way people work, improve production efficiency, and form a sustainable business model.

OpenAI’s long-term value comes from several aspects.

On the one hand, ChatGPT has already established a global user base, making OpenAI an important entry point for consumers and enterprises to access AI technology. On the other hand, enterprise-grade AI applications are developing rapidly, and more and more companies hope to integrate artificial intelligence into business processes. In addition, the AI industry’s demand for compute power, data, and infrastructure further increases the importance of leading companies. Therefore, the market’s focus on OpenAI essentially reflects a judgment about the future AI industry landscape. If artificial intelligence becomes the next-generation digital infrastructure, then companies that control core technologies and ecosystem entry points may gain long-term competitive advantages.

How Gate Pre-IPOs Connect the Growth Stages of AI Leaders

Gate Pre-IPOs’ second phase launches the OpenAI (OPENAI) project, providing the market with a new way to focus on changes in the value of AI leaders before listing. The OpenAI (OPENAI) asset certificates adopt the form of Mirror Note (mirror notes) to map changes in market value before OpenAI’s listing and after its future listing. It needs to be made clear that OPENAI is not the stock of the OpenAI company, nor does it mean that investors hold shares of OpenAI. These asset certificates do not provide the shareholder rights corresponding to traditional shares; instead, they reflect changes in the value of the target company through related mechanisms.

For Pre-IPOs, the core focus is on the way value is expressed during a company’s process of moving from the private market to the public market. Through digitization, Gate Pre-IPOs structures and presents market opportunities during this stage, enabling users to understand more clearly the operating logic of pre-listing assets.

According to the project schedule, OpenAI (OPENAI) subscriptions are about to open. The subscription period is from 15:00 on July 15, 2026 to 15:00 on July 17, 2026 (UTC+8).

OPENAI Subscription Mechanism and Dual-Currency Participation Explained

This Gate Pre-IPOs second phase OpenAI (OPENAI) project supports dual-currency subscriptions in USDT and GUSD, giving users different ways to participate. The project’s total subscription value is approximately 20,000,000 USD, and the subscription price is 1 OPENAI = 722 USD, corresponding to an implied market capitalization of approximately 89.5 billion USD for OpenAI. Among them, the USDT subscription pool accounts for 70% of the total, while the GUSD subscription pool accounts for 30%. The minimum subscription amount per user is 100 USDT or 100 GUSD, and there is an upper limit on the number of asset certificates a single person can receive. This subscription also provides multiple additional benefits. Participating users can receive GT “Sunshine” rewards, and qualified VIP users can also take part in the OpenAI (OPENAI) exclusive airdrop program.

For users who participate using GUSD, they can also enjoy GUSD minting rewards at the same time. According to the project rules, GUSD can provide a 3.8% annualized minting reward, and rewards are automatically distributed daily. This dual-currency subscription mechanism allows users to have more flexible choices of funds while they take part in pre-listing opportunities for AI leaders.

Could Pre-IPOs Become an Important Entry Point for Future Tech Assets

The launch of OpenAI Pre-IPOs also reflects a potential new trend in the future capital markets. As more super unicorns continue to emerge in areas such as AI, aerospace, and biotech, the stage where company value forms is being pushed earlier. In the future, the market may no longer focus only on stock trading after listing, but instead pay more attention to how a company’s value changes between its growth stage and the public markets. Traditional capital markets mainly focus on IPOs and the secondary market, while Pre-IPOs connect the transition period between a company’s growth stage and the public markets.

For technology companies, this stage is especially important. The faster the pace of technological innovation, the faster a company’s value changes. When a company becomes an important driver of an industry trend, the market’s assessment of its future value often occurs in advance.

Gate Pre-IPOs’ second phase OpenAI project provides the market with a new way to observe the growth path of AI leaders under this trend.

In the future, as more AI companies enter the commercialization stage, the pre-listing market may become an important component of value discovery for tech assets.

FAQs

When does the Gate Pre-IPOs second phase OpenAI project open?

According to the project schedule, the OpenAI (OPENAI) subscription period is from 15:00 on July 15, 2026 to 15:00 on July 17, 2026 (UTC+8).

Is OPENAI OpenAI stock?

No. OPENAI is an asset certificate in the form of a Mirror Note (mirror notes), and it does not represent OpenAI company stock or shares.

What subscription methods does this OpenAI Pre-IPOs support?

This supports dual-currency subscriptions in USDT and GUSD, and users can choose how to participate based on their needs.

What are the advantages of subscribing with GUSD?

Users who participate using GUSD can also enjoy GUSD minting rewards at the same time.

What is the difference between Pre-IPOs and IPOs?

An IPO is when a company issues stocks to enter the public markets, while Pre-IPOs focus on the stage where value changes before a company goes public.