Want to Own OpenAI Stock Before Its IPO? Here Are 2 Ways Investors Can Buy Right Now.

Why It Matters

Early exposure to OpenAI lets investors capture upside from the fastest‑growing AI company, while the chosen vehicle determines risk, liquidity, and additional strategic benefits.

Key Takeaways

• Ark Venture Fund holds 11% of OpenAI, but is illiquid
• Microsoft owns a $230 billion stake in OpenAI and 20% revenue share
• OpenAI valued at $852 billion, targeting IPO Q4 2024
• Ark Venture Fund’s expense ratio is 2.9%, higher than typical funds
• Microsoft’s partnership could add up to $300 billion pre‑tax revenue by 2032

Pulse Analysis

OpenAI’s pending IPO has become a focal point for capital markets, as the company’s $852 billion valuation dwarfs most tech listings. Its revenue surge—225% to $13 billion in 2025 and a projected $30 billion in 2026—places the firm at a 65‑times sales multiple, underscoring both the hype and the premium investors are willing to pay for generative‑AI leadership. Analysts expect the offering to attract a broad spectrum of buyers, from institutional funds to retail traders, making early‑stage exposure a coveted advantage.

One pathway is the Ark Venture Fund (ARKVX), an interval fund that allocates roughly 11% of its portfolio to OpenAI alongside stakes in SpaceX and Anthropic. While the fund has delivered a 151% return since its 2022 launch, its structure limits liquidity to quarterly repurchases and imposes a steep 2.9% expense ratio. These characteristics amplify downside risk if private‑company sentiment cools, positioning the fund as a high‑conviction but less accessible option for investors seeking direct AI exposure.

A more conventional route lies in Microsoft, which invested $13 billion for a 27% share of OpenAI, now worth about $230 billion. Beyond equity, the partnership grants Microsoft 20% of OpenAI’s revenue through 2032, potentially adding $300 billion to its pre‑tax earnings. This dual exposure benefits shareholders through both capital appreciation and a steady revenue stream, while Microsoft’s broader cloud and enterprise businesses provide a defensive cushion. Compared with the Ark fund, Microsoft stock offers greater liquidity, lower expense drag, and diversified growth drivers, making it the lower‑risk choice for investors eager to ride the AI wave ahead of the IPO.