OpenAI’s last confirmed valuation remains $852 billion from its March 2026 funding round, with secondary market indications hovering near $950 billion–$1.2 trillion. Trader sentiment centers on whether early-stage talks for a $30 billion pre-IPO bridge round at roughly $1.4 trillion pre-money can close before October 31, fueled by annualized revenue run-rate growth to $50–70 billion and strong enterprise adoption. CEO Sam Altman has ruled out an IPO in 2026 for AI safety reasons, positioning any near-term round as a liquidity and capital bridge ahead of a potential 2027 listing. No funding closure or tender has been announced since the September reports, leaving resolution dependent on rapid investor alignment amid ongoing competition with Anthropic and rising compute costs.