Sam Altman Is Waiting for a $1 Trillion OpenAI Valuation. SoftBank Has a $40 Billion Loan Due March 2027.

OpenAI CEO Sam Altman is holding out for a $1 trillion valuation and plans to delay the company's IPO until 2027, but this creates a conflict with major investor SoftBank, which took a $40 billion bridge loan due in March 2027 and expected to cash out through an earlier IPO. Meanwhile, OpenAI's operating losses reached nearly $21 billion last year despite tripling revenue, highlighting the broader challenge facing AI companies to demonstrate returns on massive infrastructure investments.