The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← OpenAI

Capital · available

~$180B cumulative raised (of which the ~$110-122B Feb-2026 round is committed, not yet fully drawn); $852B valuation is the mark, not drawable cash

high confidence · as of 2026-07-26 · about OpenAI

Sourced figures 4


the working

A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to OpenAI.