Recent private funding momentum and accelerating revenue have shaped trader views on OpenAI’s eventual IPO valuation, with annualized run-rate sales nearing $70 billion and early talks for a $30 billion bridge round at roughly $1.4 trillion pre-money. The March 2026 round closed at an $852 billion post-money valuation, and CEO Sam Altman has deferred the public listing until 2027 to address AI safety priorities, creating uncertainty around public-market reception and multiples. Competitor Anthropic’s potential near-term debut adds a key reference point. With market-implied odds tightly clustered across the $1–2 trillion range, outcomes hinge on sustained revenue expansion, final private terms, and broader equity sentiment ahead of the 2027 window.