스페이스X·오픈AI, 지난 25년 기술 공개 규모 능가

We've talked before about the hot IPO summer , but with SpaceX just launched to public markets and Anthropic and (maybe) OpenAI soon to come, it can be easy to miss the sheer scale of what's happening. We got a good reminder of it in Wednesday's NCVA-Pitchbook Venture Monitor report . Not surprisingly, all of the money in private markets is flooding into AI — but one particular figure stood out. Taking the measure of the pending OpenAI and Anthropic IPOs, the report drops this nugget: "Along with the SpaceX IPO, these exits will generate more value than all U.S. VC-backed exits since 2000." That's quite a claim, and when you add up the numbers, it's hard to disagree. SpaceX has already gone public at a $1.77 trillion valuation, and with both Anthropic and OpenAI pushing into the trillions it's likely the trio together will land somewhere north of $4 trillion. By comparison, the U.S. Securities and Exchange Commission counted just $70 billion in US-based IPO proceeds last year. Careful readers will notice a few caveats in the language. It doesn't include non-U.S. companies like Alibaba, and we're measuring "value created" as opposed to strictly liquid cash. A lot of the major tech developments happened at companies that had already gone public (the iPhone, the debut of Android, and the launches of YouTube and Instagram), so they wouldn't be captured in the IPO figures. Still… that was a pretty eventful 25 years. Among other things, that period saw IPOs from Google (2004), Tesla (2010), and Meta (2012), which are now among the most valuable companies in the world. During the same period, LinkedIn, Slack, and WhatsApp were all acquired for more than $20 billion. Uber's $84 billion IPO seemed like a lot of money in 2019, but it's less than 5% of what SpaceX just drummed up. One factor here is that companies are staying private for longer. The Google of today probably would have delayed its IPO and gone public at a higher number. Another factor is the capital-intensive nature of AI training, which has pushed labs into intense fundraising and inflated valuations. But the sheer scale of the public offerings is still way beyond anything the industry has ever done, and is already pushing the financial infrastructure to its limit. Topics AI , Anthropic , OpenAI , SpaceX When you purchase through links in our articles, we may earn a small commission . This doesn’t affect our editorial independence. Russell Brandom AI Editor Russell Brandom has been covering the tech industry since 2012, with a focus on platform policy and emerging technologies. He previously worked at The Verge and Rest of World, and has written for Wired, The Awl and MIT's Technology Review. He can be reached at russell.brandom@techcrunch.com or on Signal at 412-401-5489. View Bio November 4 Boston Last chance to save up to $190 on TechCrunch Founder Summit. Join 1,000+ founders and VCs at all stages for real-world scaling insights and connections that move the needle. Savings end June 26, 11:59 p.m. PT . REGISTER NOW Most Popular If you use Google, you're training its AI. Here's how to opt out. Sarah Perez Reddit is using LLMs to solve a problem LLMs largely created Amanda Silberling Amazon will stop accepting new customers for Mechanical Turk Anthony Ha 5 desk gadgets that can make your workday better Aisha Malik New Google commercial imagines a Declaration of Independence written with help from AI Anthony Ha Chevy built an all-American EV truck — why is nobody buying it? Tim De Chant Mark Zuckerberg tells staff that AI agents haven't progressed as quickly as he'd hoped Lucas Ropek