SpaceX, Anthropic, and OpenAI are preparing landmark initial public offerings to reshape U.S. capital markets. SpaceX filed its prospectus on May 20 for a record-breaking $75 billion raise. The company targets a June 12 debut with a valuation of approximately $1.75 trillion.
Anthropic filed confidentially for an IPO this fall following a $965 billion valuation in recent funding. OpenAI is reportedly preparing its own filing within the coming weeks.
The combined valuation of these three companies could reach $4 trillion. These listings may disrupt broader markets and alter benchmark indexes. Index providers have already modified rules to allow for rapid inclusion of these mega-cap firms. New rules could force passive investment funds to buy significant shares immediately after the debuts.