How to invest in OpenAI in Canada

OpenAI built ChatGPT, the AI product that crossed a billion monthly users in under two years.¹ In March 2026, it raised $122 billion at an $852 billion valuation. In June, it filed a confidential S-1 with the SEC.

A public listing looks likely. But OpenAI has said the timing "may be a while," and reports suggest it could wait until 2027. If you want exposure before that happens, here is what Canadian investors need to know.

Is OpenAI publicly traded?

Not yet. There is no ticker symbol, no publicly listed shares, and no OpenAI ETF in Canada.

In late 2025, OpenAI restructured from a capped-profit entity to a public benefit corporation. Removing the cap on investor returns cleared the path for a future IPO. While they filed a confidential draft S-1 with the SEC in June 2026, reports suggest they may time their actual market debut for late 2026 or 2027.

What is OpenAI worth?

OpenAI's last private round closed in March 2026 at $852 billion — a $122 billion raise, the largest in private market history. Media reports have cited CEO Sam Altman as saying any IPO below $1 trillion would be a "non-starter."

The company generated roughly $20 billion in revenue in 2025 and is on a $25 billion annualized run rate. It has more than 50 million paying subscribers and over a million business customers. But according to a January 2026 report from The Information (opens in a new tab), internal projections point to $14 billion in losses for 2026, with profitability not expected until 2029.

How can Canadians invest in OpenAI before the IPO?

If you have the conviction and meet the criteria, you don't have to wait. Accredited investors can access certain Pre-IPO companies through Questrade. You invest through your existing self-directed Questrade account, starting from $5,000 USD per order. Pre-IPO investments are priced and settled in USD. To place an order, your combined USD buying power must be sufficient to cover the investment amount plus the transaction fee.

Some publicly traded companies and funds have indirect exposure to OpenAI or the broader AI ecosystem, but you are not investing in OpenAI specifically.

OpenAI is available on the waitlist on our Pre-IPO page (opens in a new tab). Join the waitlist to get early access if the offering becomes available.

What do I need to know before investing?

Pre-IPO investing is about long-term positioning, which means accepting illiquidity. You cannot sell these shares on the open market, and capital is committed until an exit event (like an acquisition or IPO)—typically followed by a 90 to 180-day lock-up period.

An $852 billion private valuation does not guarantee the stock will open at or above that price. Companies sometimes list below their last private round.

Pre-IPO investments are restricted to accredited investors under Canadian securities regulation. You need to verify your investor status before you can participate. Quebec residents and U.S. tax residents are not eligible.

At Questrade, Pre-IPO offerings are available in self-directed cash or margin accounts only. All registered account types are excluded. Questwealth Portfolios and Custom Indexing accounts are also excluded. Learn more about Pre-IPO investing at Questrade.

Should I invest in OpenAI?

The revenue growth is real. So is the dominant position in consumer AI. According to The Information (opens in a new tab), internal projections point to $14 billion in losses for 2026, with profitability not expected until 2029, and the $852 billion valuation already prices in a lot of future success. Pre-IPO investing adds illiquidity on top of that.

If you are comfortable with those trade-offs and meet the accreditation requirements, Pre-IPO gives you a way to take a position before a public listing. Or you can wait till they IPO and trade on the public market. The choice is yours.