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North Carolina Treasurer passes on SpaceX citing valuation concerns; favors OpenAI, Anthropic
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- North Carolina State Treasurer Brad Briner said the year's hottest IPO is too expensive for his pension fund to own.
- "There's been a pricing issue that we've been concerned about for the last year or so with SpaceX," Briner said on CNBC's "Squawk Box" Wednesday.
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North Carolina State Treasurer Brad Briner said the year's hottest IPO is too expensive for his pension fund to own.
Briner, who oversees roughly $200 billion for North Carolina's teachers, firefighters and police officers, said the state has invested heavily in artificial-intelligence startups OpenAI and Anthropic while avoiding a direct stake in SpaceX — expected to go public Friday — because of concerns that the Elon Musk-led company's $1.77 trillion valuation leaves little room for future gains.
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