OpenAI’s latest private funding round closed at a $1.25 trillion pre-money valuation after securing $11 billion, with the total potentially reaching $20 billion, down from an initial $30 billion target at $1.4 trillion amid an AI-sector selloff and investor caution over infrastructure spending. This marks a sharp step up from the $852 billion post-money valuation set in its March 2026 $122 billion round, supported by annualized revenue run rates near $50 billion that have shown 70% quarterly growth, with enterprise sales now comprising the majority of revenue. Executives have reaffirmed a 2027 IPO timeline following the June 2026 confidential S-1 filing, citing safety priorities that pushed the listing beyond 2026, while rival Anthropic’s impending debut could influence capital flows and public-market sentiment for AI valuations.