Identity Crisis: Investors Question OpenAI’s $852B Valuation

The transition to the ruthless Enterprise sector comes at a price. On April 14, 2026, the Financial Times and Reuters reported growing skepticism among Wall Street investors regarding OpenAI’s astronomical $852 billion valuation.

The reason lies in a sharp strategy shift. The market is asking Altman an uncomfortable question: is the company still building a universal AGI for all of humanity, or has it definitively turned into an expensive B2B software vendor? Recent moves—the launch of the $100 Pro tier for developers, and deals with CyberAgent and Novo Nordisk—clearly point to the latter. If OpenAI is just a premium SaaS, then its valuation multiples should be assessed according to the laws of the classic IT market, not the venture dreams of a technological singularity. This conceptual dissonance could become the corporation’s main financial vulnerability in 2026.

Source: Financial Times / Reuters