OpenAI’s ongoing talks for a $30 billion-plus private round at roughly $1.4 trillion pre-money valuation, following the March 2026 close at $852 billion post-money, anchor trader views on IPO pricing. Strong revenue momentum—with annualized run rates reported near $40–70 billion—supports higher multiples, yet the 2027 IPO timeline, driven by AI safety and alignment priorities, introduces execution and market-condition uncertainty. Competitor Anthropic’s planned listing adds a near-term valuation benchmark. These factors produce closely matched probabilities around sub-$1 trillion and $1.75–2.0 trillion outcomes, reflecting dispersion in assumed revenue growth, multiples, and post-IPO sentiment rather than a clear consensus.