OpenAIPPU
OpenAI equity calculator: value your PPUs using secondary market data
Calculate the real value of your OpenAI PPU grant using the latest secondary market prices from Hiive and Forge. Four independent methods, free, no account required.
OpenAI — current market snapshot
Last primary round
$852B
Series H · 2026-03
Secondary market
$853B
+0% vs primary · Forge · 2026-04
Annual revenue (ARR)
$24.0B
+60% YoY
Equity type
PPU
Key things to know
- →OpenAI PPUs have no strike price — enter your unit count and vesting status.
- →Secondary market implies ~$875B (slightly above the $852B Series H).
- →PPUs are taxed as ordinary income at distribution — plan accordingly.
- →Use Method B (secondary-implied) as your primary reference for current market value.
Open the calculator
Enter your actual shares, equity type, and strike price. PrivatePulse uses secondary market data and four independent valuation methods to give you a defensible range.
Calculate my OpenAI equity →Free · No account required · Takes 2 minutes
Liquidity outlook for OpenAI
IPO highly anticipated, likely 2026–2027 given massive scale. One of the most closely watched pre-IPO names in tech.
As a PPU holder, you don't exercise — you receive value at distribution events (tender offers or IPO/liquidity). No exercise cost, no AMT. The downside: no control over timing.
Frequently asked questions
How do I calculate the value of my OpenAI PPUs?↓
Enter your number of PPUs and vesting status in PrivatePulse's calculator. Select OpenAI as your company and PPU as your equity type. Set strike price to $0. The calculator will apply the secondary market per-unit price and three additional valuation methods to give you a range. Method B (secondary-implied) is the most current signal.
What is one OpenAI PPU worth?↓
At the $852B Series H with approximately 1.5 billion fully-diluted units, each PPU implies a value of roughly $568 at the primary round price. Secondary market trades are close to this level ($875B implied = ~$583/unit). This fluctuates with secondary market activity.
Does the OpenAI equity calculator account for the tender offer?↓
The calculator models your equity based on current secondary market prices. Tender offer participation is a separate decision — the tender price is typically within 5–15% of the secondary market price. If a tender is active, compare your tender offer price against the calculator's Method B output.
More OpenAI equity guides
Software Engineer at OpenAI
OpenAI software engineers receive PPUs (Profit Participation Units), not traditional options. Here's what your grant is worth based on secondary market data and our 4-method valuation.
Machine Learning Engineer at OpenAI
ML Engineers at OpenAI are among the highest-compensated in tech. Here's what your PPU grant is worth at the $852B Series H valuation — and what the secondary market says.
Product Manager at OpenAI
PMs at OpenAI receive PPU grants in the $300K–$1.5M range. Here's how to value them using secondary market data and PrivatePulse's 4-method calculator.
Engineering Manager at OpenAI
Engineering managers at OpenAI sit at the intersection of technical and leadership compensation. Here's how your PPU grant compares to the secondary market.