OpenAI’s private valuation stands at approximately $852 billion following its record $122 billion March 2026 funding round, with secondary-market marks recently implying $900 billion or higher as of early October. The primary near-term drivers include SoftBank’s completion of its final $10 billion tranche on October 1, lifting its total commitment to $64.6 billion, alongside active discussions for a potential $30 billion bridge round targeting a $1.4 trillion pre-money valuation. Annualized revenue run rate has accelerated sharply toward $70 billion, supported by enterprise adoption and the revised Microsoft partnership that preserves Azure priority while expanding multi-cloud flexibility. With an IPO now targeted for 2027 rather than late 2026, trader focus centers on whether new capital or continued revenue momentum can push marks above key thresholds before year-end.