SpaceX, Anthropic, and OpenAI have a combined valuation of $5.2 trillion, exceeding the total of $4.1 trillion generated by all 3,365 US tech IPOs between 1980 and 2025. SpaceX debuted on Nasdaq in June 2026 with an approximate $2 trillion valuation, raising around $75 billion in the largest IPO in history by proceeds. Anthropic, which closed a $65 billion funding round in May 2026, is targeting a $2 trillion valuation for its upcoming IPO. OpenAI, which raised $122 billion in March 2026, projects a net loss of approximately $14 billion for 2026 and is targeting a $1.2 trillion valuation for its IPO, pushed to 2027.
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