SpaceX, Anthropic and OpenAI IPOs could top $4 trillion in enterprise value

An NVCA and PitchBook report said SpaceX’s current valuation and potential multi-trillion-dollar valuations for Anthropic and OpenAI could put their combined public-market value above all U.S. VC-backed exits since 2000.

Summary

Potential public listings by SpaceX, Anthropic and OpenAI could together generate more than $4 trillion in enterprise value, according to an NVCA and PitchBook report. The report said that total would exceed the combined exit value of all U.S. venture capital-backed companies since 2000 when measured on an enterprise-value basis. It cited SpaceX’s current valuation at about $1.77 trillion and said Anthropic and OpenAI could each reach multi-trillion-dollar valuations if they go public.

Terms & Concepts
  • enterprise value: A measure of a company’s total value that accounts for factors such as debt and cash.
  • IPO: Initial public offering, when a private company lists shares publicly.
  • venture capital-backed: Describes companies financed by investors that fund high-growth private businesses.