SpaceX, OpenAI and Anthropic could be 3 of the biggest venture-backed IPOs of all time
- Mar 22
- 1 min read
FORTUNE — Consider the numbers: U.S. venture-backed IPOs raised $62.1 billion in 2021, a record year. Now look at SpaceX alone. The company, started as an Elon Musk moonshot in 2002, is reportedly looking to rake in $50 billion on its own.
SpaceX’s valuation is reported to be $1.5 trillion, and for investors who backed the company in its 2023 round (then valuing the company at $137 billion), PitchBook estimates those investors are due a stunning 10x return. (In that group, there are nearly 50 investors, including Andreessen Horowitz.)
Then there’s OpenAI and Anthropic. If one or both of these companies go public, it would mean a cascade of much-needed returns for U.S. venture capital, a sector starved for liquidity for half a decade.
However, some words of caution: First, these prospective massive liquidity events will be relatively concentrated, a reflection of the lopsided AI market.
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