North Carolina Shuns $1.8 Trillion SpaceX, Backs $290 Million in OpenAI and Anthropic
Updated
Updated · CNBC · Jun 10
North Carolina Shuns $1.8 Trillion SpaceX, Backs $290 Million in OpenAI and Anthropic
1 articles · Updated · CNBC · Jun 10
Summary
$200 billion North Carolina pension fund will not take a direct stake in SpaceX ahead of its IPO, Treasurer Brad Briner said, arguing the company’s roughly $1.77 trillion valuation leaves too little upside for retirees.
SpaceX plans to price 555.6 million shares at $135 on Thursday, raising about $75 billion and starting trading Friday in what is expected to be one of the biggest IPOs ever.
Briner said the state instead put about $40 million into OpenAI and roughly $250 million into Anthropic earlier this year, with the Anthropic position now worth more than $600 million.
North Carolina still expects to gain SpaceX exposure through public-equity index funds after the listing, highlighting a wider institutional-investor debate over whether the company’s valuation already captures much of its promise.