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Anthropic, SpaceX, OpenAI IPOs Set to Eclipse 3,000 US Tech Offerings Since 1980
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Moneycontrol•30-09-2026, 13:44
Anthropic, SpaceX, OpenAI IPOs Set to Eclipse 3,000 US Tech Offerings Since 1980
- •Anthropic's IPO prospectus reveals a projected revenue surge to $4.6 billion in 2025 despite a $42 billion net loss, with a potential valuation exceeding $2 trillion.
- •Combined, Anthropic, SpaceX, and OpenAI are valued or potentially valued at over $5 trillion, surpassing the $4.07 trillion first-day market value of 3,365 US tech IPOs between 1980 and 2025.
- •The comparison highlights a dramatic shift in the scale of technology companies reaching public markets, with modern firms often securing extensive private funding before an IPO.
- •The IPO is increasingly becoming a transition from private to public market price discovery, rather than the initial moment of major growth for a company.
- •Companies like Anthropic are entering public markets much larger, after years of private funding and valuation-building, unlike earlier generations of tech companies.
Key Questions Answered
Anthropic, SpaceX, and OpenAI are valued or potentially valued at more than $5 trillion combined, which exceeds the $4.07 trillion first-day market value of 3,365 qualifying US technology IPOs between 1980 and 2025.
Anthropic's IPO prospectus shows that its revenue surged nearly 12-fold to about $4.6 billion in 2025, while it simultaneously reported a net loss of $42 billion.
Unlike earlier generations of tech companies like Apple or Microsoft that listed early in their growth cycles, modern tech firms rely on years of private equity and venture capital funding. They often arrive at public markets much larger, with billions in revenue and multi-hundred-billion-dollar valuations.
