OpenAI, IPO and Anthropic
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Stock compensation is rocket fuel for employees of SpaceX. Its IPO will make many of them millionaires. Here's what I learned about their stock comp in the IPO filing.
Market pricing suggests that SpaceX’s IPO could exceed $1 trillion in market cap, as reflected in high YES odds. The $50B-$60B funding range appears unlikely, with market activity showing stronger support for higher funding outcomes.
This is happening at a time when IPOs are already having a powerhouse year. According to Renaissance Capital, $34.2 billion has already been raised through May 31, up 163.9% from the same period a year ago.
With three major AI-related IPOs on the horizon - SpaceX, Anthropic, and OpenAI - it may feel like AI equities will rally for the foreseeable future. However, as we’ve seen in other high-flying industries of the past, these events can often mark market highs. Here’s what the Coinbase IPO can show us.
AI giant Anthropic said on Monday it has confidentially filed for a U.S. initial public offering, teeing up a watershed moment for Wall Street's AI frenzy. Tech stocks continue to lead the Nasdaq Composite and S&P 500 in a record-breaking market rally,
Buy SpaceX IPO shares at/near the $135 pricing only if final allocation confirms true long-term demand (not just oversubscription). The setup: dominant launch position + Starlink cash engine, with upside optionality from AI compute/data-center buildout.
I feel bullish on this year’s IPO market, with one caveat: SpaceX has to prove that AI can carry the comeback by itself. In my view, if investors absorb a $75 billion IPO well, OpenAI and Anthropic may become much easier to underwrite later this year.
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Will SpaceX still be a launch company after its historic IPO?
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AI giant Anthropic said on Monday it has confidentially filed for a U.S. initial public offering, teeing up a watershed moment for Wall Street's AI frenzy.
Entrata, Inc. is a profitable, fast-growing SaaS provider for multifamily property management operators and owners. ENT has demonstrated strong revenue growth (23% YoY), expanding margins, and robust free cash flow, while integrating GenAI into its platform.