# AI Giants Outvalue 45 Years of Tech IPOs

> SpaceX, OpenAI, and Anthropic now hold $5.2 trillion in combined value, surpassing all U.S. tech IPOs since 1980.
- Title: AI Giants Outvalue 45 Years of Tech IPOs · 24/7 Wall St.
- Summary: SpaceX, OpenAI, and Anthropic now hold $5.2 trillion in combined value, surpassing all U.S. tech IPOs since 1980. Three AI companies collectively exceed the…
- Keywords: spacex, openai, anthropic, ipo, market capitalization, tech valuation, Giants, Outvalue, Years, Tech, IPOs, 24/7 Wall St.
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/09/23/spacex-openai-and-anthropic-are-woth-more-than-every-single-ipo-in-the-last-45-years
- Author: Rich Duprey
- Published: 2026-09-23T15:40:34+00:00
- Read time: 1 min
- Topics: spacex, openai, anthropic, ipo, ai, market capitalization, tech valuation
## AI Companies Outvalue Decades of Tech IPOs
Three private AI companies now collectively hold a market value exceeding the combined first-day market value of 3,365 U.S. technology IPOs from 1980 through 2025.
## SpaceX Valuation at $2.1 Trillion
SpaceX, a space, AI, and technology company, has a market capitalization of almost $2.1 trillion following its June IPO and raised $85.7 billion in the offering.
## OpenAI Targeting $1.2 Trillion Valuation
OpenAI, a privately held company, is reportedly discussing a new funding round at a valuation of roughly $1.2 trillion, up from its March valuation of $852 billion.
## Anthropic Aims for $2 Trillion IPO
Anthropic, a privately held company, is reportedly targeting a valuation of about $2 trillion for a potential IPO now anticipated in November (pushed back from an expected October debut).
## Valuation Comparison Chart
A chart shows the combined valuation of SpaceX, OpenAI, and Anthropic exceeding the $4.07 trillion market value of 3,365 U.S. tech IPOs from 1980 through 2025.
## Profitability Concerns
OpenAI projects $278 billion in negative free cash flow from 2026 through 2030, while Anthropic delays positive cash flow until 2028, raising questions about profitability.
## Investor Risk Assessment
Apollo Global Management’s chief economist warns that major tech companies could need to triple cash flow by 2030 to sustain AI infrastructure spending, risking slower U.S. GDP growth.
## Key takeaway

Three AI companies collectively exceed the market value of 3,365 tech IPOs from 1980 to 2025, but profitability remains uncertain.