As AI companies race to go public, who else is along for the ride?
Key takeaways
- Space X went public this week in the largest IPO ever, making CEO Elon Musk the world’s first trillionaire.
- Despite its name, Space X has been emphasizing the potential of its costly AI business, and competitors Open AI and Anthropic may soon follow with their own public market debuts.
- Kirsten also noted that there are other startups trying to “ride that SpaceX IPO wave,” for example by raising money for orbital data centers after SpaceX helped to popularize the concept.
Why this matters: a development in AI with implications for how people work, create, and decide.
Space X went public this week in the largest IPO ever, making CEO Elon Musk the world’s first trillionaire.
Despite its name, Space X has been emphasizing the potential of its costly AI business, and competitors Open AI and Anthropic may soon follow with their own public market debuts. So on the latest episode of Tech Crunch’s Equity podcast, Kirsten Korosec, Sean O’Kane, and I discussed what’s looking like a hot IPO summer.
“We have Space X not only sucking up just a huge chunk of the money that s available on public markets, but also really stress testing the limits of what a public company can be and how much it can be controlled by one single person,” Sean said. “My eye is really on these other tech companies that will go public and how much they will try to emulate.”