It IPOs at an IPO Price that gives a $1trillion or higher valuation
It IPOs at an IPO Price below a $1trillion valuation
It does another private round at a lower valuation (or flat) than it's March 2026 post-money valuation of $852billion (taking this valuation even through this would imply the round was smaller due to Amazon money not coming through)
OpenAI is acquired by another company either fully or as an acquihire
It IPOs at a price that is a down round (or flat) from it's last (March 2026) post-money private valuation of $852billion