Recent funding negotiations have anchored trader consensus around a $1.25 trillion valuation for OpenAI at the end of October 2026. The company pared its round target to roughly $20 billion at that level after investor pushback on an earlier $1.4 trillion ask, amid a broader AI-related tech selloff that pressured public market multiples. Strong revenue momentum—hitting an annualized run rate near $50 billion by late September with expectations of further growth—combined with commitments from UAE funds and firms such as Coatue supported the pricing as a bridge to a planned 2027 IPO. While the round remains open with final terms subject to change, the timing of commitments and consistent reporting around $1.25 trillion leave little room for alternative outcomes unless last-minute allocation shifts or market swings materially alter the close.