Stephen Carroll

We've seen and we've reported a number of updates, whether it's talking to bankers, talking to lawyers,

We've heard that the big three in Goldman Sachs, JPMorgan and Morgan Stanley are closely circling both companies with the expectation that one or two of them, hopefully, according to sourcing, will be potentially going public later this year.

As a team, we've been super focused on the SpaceX IPO, frankly.

But Amthropic, you know, the reported numbers are big.

They're worth paying attention to.

What do we know about their goals here?

Yeah, so the information reported that they could raise $60 billion.

We haven't put out a number on what they would want to raise in an IPO.

The big focus has been what scale can they get to and what will investors be willing to underwrite.

The big topic for both Anthropic and OpenAI is these are companies that spend a lot of money.

And so when you talk to investors, the big question is how can you solve for that need to spend?

And what does that ultimately look like from a valuation perspective?

Tens of billions of dollars is...

Probably easy to raise just given some of the rounds we've seen take place in private funding.

But the big question will be how can the buy side come up with that capital if we do see SpaceX potentially raising $75 billion and then just a number of months later another $50 billion?

We're waiting on a SpaceX confidential filing prospectus.

But there's some reporting that we put out yesterday that suggests they're still working on this.

What's happening in the month of April, for example?

Yeah, so our reporting was that they've been working to and telling investors to get ready for meetings on the other side of that Easter holiday.

So April 6th, that week and the week following is when investors are being told basically clear your schedules and be ready to interact with SpaceX management.