The Wave of Giant IPOs: SpaceX, OpenAI, and Anthropic Go Public

Summer 2026 will likely be etched in the history of financial markets as the moment when three of the most influential tech companies of our time simultaneously went public. SpaceX conducted its IPO in June 2026 at $135 per share, OpenAI filed documentation with the SEC, and Anthropic announced a confidential IPO filing. Together, these three offerings could draw more than $200 billion in capital from the market.

📈 Historical Reminder: Facebook in 2012

One of the most illustrative examples of how an anticipated IPO can turn into short-term disappointment is Facebook. When the company entered Nasdaq in May 2012 at $38 per share, demand was fueled by euphoria.

> In the following months, the share price dropped by almost half, to around $18.

Although Meta Platforms now trades at significantly higher valuations, the path there involved a period of significant volatility that caused considerable losses for unprepared investors.

💡 Why the Story Often Repeats Itself

Highly anticipated IPOs share common characteristics that increase risk:

• Finding the Right Price: Pre-IPO valuation is based on negotiations, not a long history of public trading. The market only begins to discover the real value after the debut.
• Emotional Demand: Investors often want to be part of the story regardless of the price, temporarily pushing valuations too high.
• Future Profitability: OpenAI is still incurring losses, Anthropic expects to become profitable in 2028, and SpaceX only in 2026. Valuations are therefore a bet on the future, not on current results.

⚠️ Is This a New “Dot-Com” Bubble?

Comparisons with 2000 are inevitable, but there's a key difference: these companies have actual revenue. Anthropic is reportedly already exceeding tens of billions of dollars in annual revenue, and OpenAI boasts hundreds of millions of users. However, competition and massive capital requirements for infrastructure remain serious risk factors.

🧭 Risks of Direct Purchase at IPO

For retail investors, especially in Europe, access to shares at the initial price is almost impossible. By the time a share reaches the stock exchange, its price is often significantly higher, increasing exposure to initial volatility.

Anyone considering an investment must be aware that the path between an excellent company and a good investment is not always directly proportional. The decision should be well-considered, taking into account a long-term time horizon and preparedness for fluctuations, which are inevitable with such high-profile market debuts.