SpaceX, OpenAI and Anthropic Lead Record AI IPO Wave

A series of massive initial public offerings is reshaping the technology sector, led by Space Exploration Technologies Corp. (SpaceX), OpenAI, and Anthropic. SpaceX is scheduled to debut on the Nasdaq on June 12, 2026, aiming to raise up to $86 billion at a target valuation of approximately $1.8 trillion. This move, following a February merger with xAI, seeks to pivot the company toward AI infrastructure and orbital compute, potentially making CEO Elon Musk the world's first trillionaire.

Anthropic and OpenAI are also pursuing public listings. Anthropic confidentially filed with the SEC on June 1, following a valuation of $965 billion. OpenAI submitted its confidential S-1 registration on May 22, with reports indicating a targeted valuation of $1 trillion and a potential debut in September 2026. Despite their growth, all three firms are currently unprofitable, sparking warnings from analysts about a potential AI bubble and the long-term viability of their business models.

Market impact has been significant, prompting Nasdaq to modify its indexing rules to allow SpaceX to join the Nasdaq 100 after only 15 trading days. While Goldman Sachs CEO David Solomon described investors as being in greed mode with sufficient liquidity to absorb these listings, other analysts warn of market indigestion and volatility. Simultaneously, hyperscalers like Alphabet Inc. have launched record-breaking capital raises, including an $85 billion share deal, to fund the escalating costs of AI data centers and computing power.