OpenAI’s Valuation Under Scrutiny as It Pivots to Enterprise
Some backers are questioning OpenAI’s $852 billion valuation as the company shifts its focus towards the enterprise market.
April 14, 2026
OpenAI’s $852 billion valuation is facing scrutiny from some of its own investors as the company pivots its strategy towards the enterprise market, according to The Financial Times.
The concerns revolve around a period of apparent strategic turmoil: OpenAI has revised its product roadmap twice in six months and recently dropped several initiatives. Critics argue this rapid change could leave the company vulnerable to competitors like Anthropic and Google.
“You have ChatGPT, a 1 billion-user business growing 50-100 per cent a year, what are you doing talking about enterprise and code? It’s a deeply unfocused company.” – Early OpenAI backer
Jai Das, president of Sapphire Ventures, compared OpenAI to Netscape, the once-dominant browser company that eventually lost its edge. One investor suggested an IPO valuation of $1.2 trillion or higher for OpenAI.
However, OpenAI’s leadership pushed back, citing a $122 billion fundraise last month as evidence of investor confidence. Sarah Friar, CFO, stated:
"The suggestion that investors are not supportive of our strategy defies the facts… Our raise… was oversubscribed, completed in record time and backed by a broad set of global investors."
OpenAI also emphasizes its growing enterprise focus, claiming 40% of total revenue now comes from enterprise sales, with plans to match its consumer business by year-end 2026. They further boast a target of 30 gigawatts of computing capacity by 2030, already securing 8 gigawatts—outpacing Anthropic’s projected timeline.
At the center of the competition is Anthropic’s impressive revenue trajectory, which surged from approximately $9 billion to $30 billion in just one year.