OpenAI IPO: what employees need to know about RSU and option taxes

RSU settlement

No specific details regarding RSU settlement procedures have been publicly disclosed at this time.

• OpenAI Targets $30 Billion in Funding at $1.4 Trillion Value

  Bloomberg · Sep 29, 2026

  OpenAI is in discussions to raise at least $30 billion in a new funding round that would value the company at approximately $1.4 trillion.

  For employees: This significant increase in valuation suggests that existing equity holdings may be worth substantially more than in previous rounds, potentially increasing the value of unvested RSUs and stock options.

• OpenAI Weighs Funding Round at Over $1.2 Trillion Valuation

  Bloomberg Law · Sep 16, 2026

  OpenAI initiated early talks with investors regarding a new funding round exceeding a $1.2 trillion valuation, with the timing of a potential IPO influencing the decision to proceed.

  For employees: The pursuit of a higher valuation indicates continued growth in the company's private market worth, which serves as a benchmark for the value of employee equity before a public listing.

• OpenAI completes $7 billion employee stock tender offer before IPO

  Yahoo Finance · Aug 11, 2026

  OpenAI executed a $7 billion secondary share sale, marking a recurring effort by the company to provide employees with ways to unlock equity value.

  For employees: Employees participating in this tender offer were able to convert equity into cash at the $852 billion valuation, which may have immediate tax implications based on the gain realized from their original grant price.

• OpenAI Buys Back $7 Billion in Employee Shares Ahead of Possible IPO

  Bloomberg · Aug 10, 2026

  OpenAI completed a $7 billion tender offer allowing current and former employees to sell shares at an $852 billion valuation.

  For employees: This secondary sale provided employees with a mechanism to achieve liquidity and cash out a portion of their equity holdings without waiting for an IPO.

• OpenAI reportedly completed a $7 billion employee tender offer

  TechCrunch · Aug 10, 2026

  OpenAI finalized a $7 billion share buyback program for employees while maintaining a confidential SEC IPO filing status.

  For employees: The use of a tender offer suggests that while an IPO is being prepared, the company is prioritizing private liquidity events to manage employee compensation and retention.

Sources

• OpenAI files confidentially for IPO - Morningstar
• OpenAI files confidential SEC paperwork - Yahoo Finance
• OpenAI 'will be a public company in 2027' - CNBC
• OpenAI's Altman won't do IPO this year - Reuters