Estimated Runway
28.4 months
Implied runway before fresh capital required
Total Capital Required
$42.0 B
Cumulative funding needs through projected IPO
Estimated Valuation at IPO
$320.5 B
Target market cap at 2027 liquidity window
Cumulative Dilution
18.2%
Employee & early investor share dilution
Capital & Burn Scenarios
Live Parameters
$14.5B / yr
Includes cluster leasing, model training, and continuous inferencing infrastructure.
$13.0B
Existing balance sheet liquidity plus committed debt/convertible facilities.
$5.5B / yr
Enterprise subscriptions, API usage, and consumer tier monetization.
15%
Share of funding allocated to existing employee equity liquidity rather than primary balance sheet.
2027
Modeled listing date (Altman confirms no public listing in immediate calendar window).
ℹ️
Simulation indicates viable primary buffer with 18.2% aggregate dilution required before public listing.
Projected Capital Depletion & Valuation Trajectory
D3.js Real-time Trajectory
| Milestone Stage | Horizon | Net Burn / yr | Valuation Anchor | Primary Capital Need | Status |
|---|