Their last investment round in May had them valued at 965B. And the company has grown a lot since then, those investors obviously expect a profit

From where? There may be some profit but I don’t think it’s gonna be anywhere near what they are expecting and the same goes for OpenAI.

Because if they priced the company more reasonably many later stage investors would stand to lose money. So they’ve backed themselves into a corner of having to go public at a $1T plus valuation just so some later stage investors don’t realize a big loss.