SpaceX, OpenAI and Anthropic IPOs Could Pull $1 Trillion Firms Into Index Funds by 2026
Updated
Updated · New York Magazine · Jun 2
SpaceX, OpenAI and Anthropic IPOs Could Pull $1 Trillion Firms Into Index Funds by 2026
3 articles · Updated · New York Magazine · Jun 2
Summary
Major U.S. index providers are poised to add SpaceX, Anthropic and OpenAI within days of their IPOs, making broadly held retirement and index funds likely owners regardless of investor preference.
By end-2026, all three companies are expected to go public at valuations of $1 trillion or more, potentially drawing hundreds of billions of dollars into AI stocks.
Index rules are already shifting to ease that path: the S&P 500 historically required one year of public trading and four straight profitable quarters, guardrails now being reconsidered as rivals move faster.
Financial details remain thin, but SpaceX lost $4.3 billion in the first three months of 2026 after billions in losses last year, which the company tied to AI spending.
Public unease over AI is rising even as Wall Street shows FOMO: Gallup found only 18% of people ages 14 to 29 felt hopeful about AI in April, while an Economist/YouGov poll showed more than 70% of Americans think it is developing too quickly.
As unprofitable AI giants enter your 401(k), are retirement savings fueling a high-risk bubble you can't escape?
With profitability rules waived for AI giants, is the S&P 500 being reshaped to favor hype over financial health?
AI's thirst for energy could consume 12% of U.S. electricity by 2030. Can our power grid survive the AI revolution?
The $3 Trillion Tech IPO Wave: SpaceX, OpenAI, Anthropic, and the Coming Market Shakeup
Overview
The upcoming IPOs of SpaceX, OpenAI, and Anthropic are set to create a historic shift in public markets, with their combined target valuations nearing $3 trillion. This surge reflects a huge appetite for AI-focused investments, which has outpaced what is currently available to public investors. As these mega-IPOs open the 'floodgates' on Wall Street, their success will be a major test for the market and could reshape global finance. The outcome will show whether public markets can absorb such massive offerings and meet the growing demand for exposure to transformative technologies.