SpaceX, OpenAI and Anthropic Launch Historic AI IPO Wave

The global financial market entered a historic IPO cycle in 2026, led by Space Exploration Technologies Corp. (SpaceX), OpenAI, and Anthropic. SpaceX executed the largest IPO in Wall Street history on June 12, raising $75 billion at a valuation of approximately $1.8 trillion. The company's debut followed a strategic pivot toward AI infrastructure, including the acquisition of xAI and the operation of the Colossus supercomputer facility in Memphis, Tennessee.

OpenAI and Anthropic followed with confidential S-1 filings with the Securities and Exchange Commission on June 8 and June 1, respectively. OpenAI targets a September debut with a valuation potentially exceeding $1 trillion, while Anthropic is eyeing an October listing with a valuation near $1 trillion. Both firms face immense pressure to monetize their models to cover staggering infrastructure costs; OpenAI projects spending $600 billion on compute by 2030.

To accommodate these mega-listings, Nasdaq and Russell Indexes implemented fast-entry rules, allowing companies to join major benchmarks in as little as five to 15 trading days. These changes sparked criticism from regulators and analysts who warn that waiving profitability requirements exposes passive investors to volatile, overvalued assets. While some executives describe the current environment as a period of high liquidity and greed, others warn of a potential AI bubble, noting that all three primary actors remain deeply unprofitable despite their astronomical valuations.