Sam Altman Is Pushing for a $1 Trillion IPO Valuation for OpenAI, Even as SoftBank Faces a $40 Billion Loan Deadline in 2027. Here's What That Tension Means for Microsoft and Nvidia Shareholders.

Sam Altman is pressing for an OpenAI IPO valuation of $1 trillion, but the timing clashes with SoftBank’s need to repay a $40 billion bridge loan. OpenAI filed a confidential S-1 with the SEC in June and is valued privately at about $852 billion after its March 2026 funding round. Altman told investors the company won’t go public below $1 trillion, implying the IPO must clear that threshold. SoftBank’s unsecured bridge loan matures in March 2027, aligning with a potential fourth-quarter 2026 or first-quarter 2027 window. Microsoft, which owns roughly 27% of OpenAI, and Nvidia, with about $30 billion committed, both face potential mark-to-market swings depending on whether the target valuation holds and how much enterprise demand is proven.