OpenAI, Anthropic, SpaceX Combined Valuations Top $5 Trillion, Exceeding All 1980-2025 IPOs

OpenAI, Anthropic and SpaceX carry a combined valuation exceeding $5 trillion, surpassing the total market value of every U.S. IPO from 1980 through 2025, according to University of Florida data cited by The Financial Times. OpenAI is raising capital at a $1.2 trillion valuation, while Anthropic could reach $2 trillion at listing and SpaceX (SPCX-US) is valued at $2 trillion, per figures posted by analyst Steve Rattner. The historical comparison is not inflation-adjusted. Anthropic, led by Dario Amodei and developer of the Claude model series, is expected to list as soon as next month, possibly slipping to late autumn 2026. OpenAI, creator of GPT, has pushed its IPO target to 2027. The valuations underscore Wall Street's conviction in AI. Hardware suppliers have benefited: Nvidia (NVDA-US) reached a $5.5 trillion market cap as of Sept. 22, 2026, and Micron (MU-US) shares have gained more than 1,100% over two years.