OpenAI has hit a new record-high in implied market capitalization, not on Wall Street, but on Solana, where tokenized pre-IPO shares of the ChatGPT maker are trading around the clock on the Jupiter decentralized exchange.
According to data from Jupiter, OpenAI’s tokenized pre-IPO shares are currently trading at $1,600.02, up 27% recently, with the platform’s own data showing a Stock MC, the implied market capitalization derived from the token price, of $1 trillion.
An investor return analysis of OpenAI that recently made rounds on social media networks showed that the ChatGPT maker has a current post-money valuation of $852 billion.
The token has 2,650 holders and $514,000 in available liquidity, with a total token market cap of $1.840 trillion.
Notably, the token is currently trading at a 33.1% premium over its mark price of $1,200, indicating that crypto investors are willing to pay significantly more than OpenAI’s implied private valuation for the ability to trade the company’s equity 24 hours a day, seven days a week, without going through traditional financial channels.
The tokens are backed by real OpenAI shares held inside a special purpose vehicle and are designed to track the AI firm’s private valuation. Traders can buy and sell using stablecoins USDT and USDC or SOL directly on Jupiter, making OpenAI equity accessible to anyone with a crypto wallet, no accreditation required.
The development is the latest signal that crypto markets are moving faster than traditional finance in pricing the AI boom, with Anthropic, SpaceX, xAI, and Anduril also trading as tokenized pre-IPO assets on the same platform.
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