As AI companies race to go public, who else is along for the ride?
On TechCrunch's Equity podcast, hosts discuss what looks like a hot IPO summer driven by AI companies racing to go public. SpaceX went public this week in the largest IPO ever, making CEO Elon Musk the world's first trillionaire, and competitors OpenAI and Anthropic may soon follow with their own public debuts. The hosts argue that public market capital is shifting away from consumer and social networks toward AI labs and deeptech, with other startups trying to ride the SpaceX IPO wave.
Key Takeaways
- Startups are trying to "ride that SpaceX IPO wave."
Listen on Apple Podcasts Listen on Spotify SpaceX went public this week in the largest IPO ever , making CEO Elon Musk the world's first trillionaire .
- 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.
"So there's a ripple effect that's happening throughout the market that I think is probably even more interesting than just the headline, 'SpaceX makes Elon a trillionaire,'" she said.
- It's a great headline, so I'm gonna read it here: " It's not FAANG anymore, it's MANGOS ."
FAANG being Facebook, which is now Meta; Amazon; Apple; Netflix; Google, now Alphabet.
- So I think that's the most interesting thing - aside from the fact that this summer is going to keep us all very busy as reporters, more than probably any other summer in a while.
Sean O'Kane: You know, once upon a time I wanted to be a lawyer, and one of the reasons I didn't was because I hated the paperwork that was going to be involved.
- My eye is really on these other tech companies that will go public and how much they will try to emulate.
Startups are trying to "ride that SpaceX IPO wave." Listen on Apple Podcasts Listen on Spotify SpaceX went public this week in the largest IPO ever , making CEO Elon Musk the world's first trillionaire . Despite its name, SpaceX has been emphasizing the potential of its costly AI business , and competitors OpenAI and Anthropic may soon follow with their own public market debuts.
So on the latest episode of TechCrunch's Equity podcast , Kirsten Korosec, Sean O'Kane, and I discussed what's looking like a hot IPO summer. "We have SpaceX 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."
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. "So there's a ripple effect that's happening throughout the market that I think is probably even more interesting than just the headline, 'SpaceX makes Elon a trillionaire,'" she said. Keep reading for a preview of our conversation, edited for length and clarity.
For more details please read the original article at TechCrunch AI.
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