Gate Pre-IPOs Phase 2 Launches with OpenAI

Gate has officially launched Pre-IPOs Phase 2, featuring OpenAI as its flagship project. The subscription opened on July 15, 2026, offering investors an opportunity to gain exposure to OpenAI's pre-IPO valuation through OPENAI Asset Certificates.

The market response was immediate and remarkable, highlighting the growing demand for regulated pre-listing investment opportunities within the digital asset ecosystem.

Subscription Demand Exceeds Expectations

The offering included 27,700 OPENAI Asset Certificates, each priced at $722, representing a total offering value of approximately $20 million.

Within just one hour, cumulative subscriptions surpassed $148 million, resulting in an impressive 639.39% oversubscription rate.

This overwhelming demand demonstrates strong investor confidence in OpenAI's long-term growth potential and reflects increasing interest in gaining exposure before a potential public listing.

Flexible Participation and Asset Structure

The subscription supports both USDT and GUSD, making participation accessible to a wide range of crypto investors.

Key participation details include:

Minimum subscription: 100 USDT or GUSD

Trading fees: Waived

Custody fees: Waived

The OPENAI Asset Certificates are issued as Mirror Notes, designed to reflect OpenAI's pre-IPO market valuation.

Each certificate is based on an implied company valuation of approximately $895 billion, allowing investors to track OpenAI's valuation before and after its eventual public listing.

Allocation Model Rewards Early Participants

Instead of using a simple proportional distribution model, Gate applies an Average Hourly Locked Amount allocation mechanism.

Under this system, users who subscribe earlier and keep their funds locked for longer receive greater allocation weight.

This approach encourages long-term participation while reducing speculative behavior during the subscription period.

Phased Unlock Schedule

Allocated Asset Certificates will be released gradually according to the following schedule:

25% unlocks on July 17, 2026

35% unlocks on August 17, 2026

40% unlocks on September 17, 2026

This phased release helps reduce immediate selling pressure while supporting more stable price discovery after distribution.

Pre-Market Trading Begins Soon

Following the subscription period, OPENAI Asset Certificates will begin Pre-Market Trading in the Gate Pre-IPOs section on July 20, 2026, at 08:00 UTC.

Given the exceptionally high oversubscription rate, early trading activity could experience elevated volatility as successful participants decide whether to hold their allocations or realize early gains.

The pre-market phase will play an important role in establishing the initial valuation before any future public listing.

OpenAI's Broader IPO Outlook

Earlier in 2026, OpenAI confidentially submitted its IPO registration to the SEC, although the company has not yet announced investor roadshows or an official listing timeline.

Current expectations suggest a possible public offering during 2027, making Gate's Pre-IPOs product one of the few opportunities for investors seeking earlier exposure.

At the same time, competitor Anthropic has also confidentially filed for an IPO and has reportedly begun investor engagement, highlighting the accelerating momentum across the artificial intelligence sector.

Investment Perspective

An implied valuation of approximately $895 billion reflects strong expectations for OpenAI's future growth across enterprise AI solutions, consumer subscriptions, and commercial licensing.

Competition within the AI industry continues to intensify as leading companies invest aggressively in new models, infrastructure, and pricing strategies.

Despite increasing competition, global enterprise adoption of artificial intelligence continues expanding rapidly, supporting strong long-term interest in high-quality AI investment opportunities.

Key Takeaway

Gate Pre-IPOs continues bridging traditional finance and digital assets by providing structured access to premium pre-listing investment opportunities.

The extraordinary 639.39% oversubscription rate, combined with strong market participation and OpenAI's global leadership in artificial intelligence, demonstrates significant investor demand for pre-IPO exposure.

As AI continues transforming industries worldwide, Gate's Pre-IPOs platform is establishing itself as an important gateway for investors seeking access to the next generation of technology leaders before they reach the public markets.

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