Anthropic, OpenAI, and SpaceX are bigger than the last 25 years of tech exits
TechCrunch
β’Thu, 09 Jul 2026 14:51:00 +0000
π° What Happened
According to the NCVA-Pitchbook Venture Monitor report, the combined value of the SpaceX, OpenAI, and Anthropic IPOs will exceed the total value of all U.S. VC-backed exits since 2000. SpaceX went public at a $1.77 trillion valuation, while Anthropic and OpenAI are both expected to push into trillions, bringing the trio's combined value to over $4 trillion.
π The Backstory
This period saw IPOs from tech giants like Google ($23B in 2004), Tesla ($1.8B in 2010), and Meta ($104B in 2012), as well as multi-billion-dollar acquisitions of LinkedIn, Slack, and WhatsApp. The comparison underscores the unprecedented scale of AI company valuations, which have grown so rapidly that three companies now eclipse decades of startup exits combined.
π― Why It Matters
The valuations reflect the AI industry's transformation from a niche technology sector into the dominant force in global capital markets. These IPOs could reshape the public markets and create a new tier of mega-cap tech companies, with implications for index funds, regulatory oversight, and market concentration.
According to the NCVA-Pitchbook Venture Monitor report, the combined value of the SpaceX, OpenAI, and Anthropic IPOs will exceed the total value of all U.S. VC-backed exits since 2000. SpaceX went public at a $1.77 trillion valuation, while Anthropic and OpenAI are both expected to push into trillions, bringing the trio's combined value to over $4 trillion.
This period saw IPOs from tech giants like Google ($23B in 2004), Tesla ($1.8B in 2010), and Meta ($104B in 2012), as well as multi-billion-dollar acquisitions of LinkedIn, Slack, and WhatsApp. The comparison underscores the unprecedented scale of AI company valuations, which have grown so rapidly that three companies now eclipse decades of startup exits combined.
The valuations reflect the AI industry's transformation from a niche technology sector into the dominant force in global capital markets. These IPOs could reshape the public markets and create a new tier of mega-cap tech companies, with implications for index funds, regulatory oversight, and market concentration.