2026-10-19 — Bloomberg reports investor pushback on Nscale’s proposed $30 billion valuation

• Bloomberg reported on Monday that Nscale is experiencing investor pushback over its proposed $30 billion valuation, TechCrunch reported — TechCrunch says Nscale is seeking to go public and that Anthropic is still expected to go public this year. (TechCrunch) Claims: kat-claim-73082474045b

2026-09-30 — SEC charges advisers who sold fake pre-IPO stakes

• The SEC charged private fund advisers in two cases involving funds that claimed pre-IPO stakes in SpaceX, OpenAI and xAI, alleging misappropriated investor money and false statements. One complaint alleges at least $1.27 million was misappropriated from funds that raised at least $18.5 million from nearly 100 investors; the other, brought with federal prosecutors, alleges a fund raised $8.7 million from 35 investors while falsely listing SpaceX and xAI as holdings; none of the companies is accused of wrongdoing. (SEC, Fortune)

2026-09-25 — Nscale’s convertible financing grows to $3.36B, with Nvidia’s $1B arriving mid-November

• British AI neocloud Nscale secured $3.36 billion in convertible-note financing ahead of its NYSE IPO, led by hedge fund Third Point, with $2.36 billion available to the company immediately and $1 billion from existing investor Nvidia arriving in mid-November, the company said Friday. The notes convert into equity once the IPO completes. The total is up from the roughly $3.1 billion reported on 09-18, when Nvidia’s share was given only as “at least $1 billion”. Nscale, which filed its S-1 on 09-18, has amassed more than $103 billion in contracts since spinning out of Australian crypto-mining company Arkon Energy two years ago; the Financial Times puts its expected NYSE valuation at $35 billion, and Bloomberg reports it is seeking to raise $3 billion in the offering. (TechCrunch)

2026-09-23 — Nscale’s biggest customer supplied 73% of its revenue and is not named in the IPO filing

• One unnamed customer accounted for 73% of Nscale’s 2025 revenue and 52% of its first-half 2026 revenue, the company’s IPO filing says, and the Financial Times reported the customer is a ByteDance-linked Singapore unit mentioned only in an appendix. The S-1 says the same customer should fall below 20% of revenue in 2026 as Microsoft (up to about $43.8bn of statements of work through 2033) and Anthropic (about $44.6bn) contracts scale, which together make up roughly $88bn of its $103.4bn contracted backlog, and the filing’s own text does not name the customer. (Nscale S-1 on SEC EDGAR, The Decoder, citing the Financial Times)

2026-09-22 — Nscale’s S-1 discloses it once carried “substantial doubt” about its own survival as a going concern

• Fortune’s 09-21 read of Nscale’s S-1 (the same filing this thread logged on 09-18) surfaces a risk-factor disclosure not previously on this thread: management “identified that the Company’s forecast funding requirements included reliance on uncommitted debt and equity financing, which initially raised substantial doubt about the Company’s ability to continue as a going concern,” before concluding it could defer or cut capex if needed. “Going concern” is the specific formal language auditors use for bankruptcy risk — a materially sharper disclosure than the net-loss figures ($1.02bn loss on $140.6M H1 revenue) already carried here, and it sits inside the same IPO filing that puts Nscale’s valuation ask at $35bn. Also newly surfaced: $56.4bn of “remaining performance obligations” spanning seven years (a narrower, nearer-term figure than the $103bn total backlog already logged), and outsized executive pay disclosures (CEO Josh Payne $23.2M; President APAC Jing Yin $24.7M). This sharpens rather than reverses the thread’s existing “money-losing IPO” framing — the company’s own paper trail now includes the language regulators/auditors reserve for going-concern risk, on a filing seeking a $35bn valuation weeks after Nvidia and a consortium committed $3.1bn in convertible notes to keep it funded. (Fortune)

2026-09-16 (event dated 2026-09-15) — OpenAI opens talks for a $1.2 trillion pre-IPO round, closing in on Anthropic’s own headline number while its public listing stays pushed to 2027

• OpenAI has opened early, investor-initiated talks for a new private funding round that would value the company at more than $1.2 trillion, per the Financial Times (picked up same-day/next-day by Bloomberg, Fortune and others) — roughly 40% above the $852bn valuation set by its March 2026 $122bn round, with no investor names, size or terms yet confirmed and the FT’s own framing stressing the discussions are preliminary. It lands days after Altman told Fortune (09-12, already on this thread) that OpenAI’s IPO won’t happen in 2026 — “an ill-advised moment” given safety work outstanding — and reads as the capital mechanism for staying private longer: raise bigger rounds instead of going public. The number is the fact worth holding onto against this thread’s own record: $1.2T puts OpenAI’s private valuation within range of the ~$2 trillion target Anthropic is chasing on its Nasdaq-bound IPO (this thread’s 09-13 entry) — the two labs now converging on comparable headline valuations through opposite capital-markets paths, one staying private and raising bigger, the other going public. ⚠️ No investor is named, including whether any existing backer (Nvidia, Microsoft, SoftBank) is involved; treat as reported, not confirmed, and whether the round proceeds at all still depends on OpenAI’s own IPO timing per the FT’s framing. (Fortune, Bloomberg via Yahoo Finance)

2026-09-18 — Nvidia-backed Nscale files publicly for a New York IPO, disclosing 1,252% revenue growth and a $1.02bn loss

• Nscale Global Holdings filed an S-1 with the SEC on 2026-09-18 to list on the NYSE under ticker NSCL, disclosing a net loss of $1.02 billion on revenue of $140.6 million for the six months ended June 30, 2026 — up from $10.4 million a year earlier, a roughly 1,252% jump — against a contracted backlog reported at up to $103 billion. The London-based, Nvidia-backed AI-cloud builder’s filing also discloses a $44.6 billion infrastructure deal with Anthropic and a $3.1 billion convertible-note financing in which Nvidia takes at least $1 billion, with Goldman Sachs, J.P. Morgan and Morgan Stanley leading the underwriting. This is a new entrant on this thread’s own “what the public market actually pays for an AI story” watch line — a neocloud builder, not a frontier lab, going public with an Anthropic compute deal as its headline financial relationship. Confirmed directly against SEC EDGAR’s own filing index (Form S-1, filed 2026-09-18, accession 0001193125-26-395475). (SEC EDGAR, primary, Bloomberg)

2026-09-13 — Anthropic picks Nasdaq for its listing, per a single Business Insider source

• Anthropic has selected Nasdaq as the exchange for its planned IPO, Business Insider reported Sunday (09-13) citing a person familiar with the company’s plans — the first reported exchange decision on this thread, which had carried the venue as unstated. Reuters picked up the report same-day; neither Anthropic nor Nasdaq has confirmed it, and no timing, share count or pricing detail came with it — just the venue. A Nasdaq listing would extend the exchange’s 2026 run of megacap AI/space debuts after SpaceX’s IPO there in June (the largest US IPO in history, ~$86.3bn raised at a ~$1.75-1.77T valuation) — the same comparison this thread has used for Anthropic’s own >$100bn raise target. ⚠️ Single-sourced and anonymous; treat as reported, not confirmed. (Investing.com, Reuters-sourced, U.S. News)

2026-09-12 — OpenAI rules out a 2026 IPO on safety grounds; Anthropic’s own listing timeline doesn’t move

• OpenAI CEO Sam Altman told Fortune in an exclusive interview that OpenAI will not go public in 2026, calling it “an ill-advised moment” given AI-safety work still underway — the same day Anthropic CEO Dario Amodei published an essay, “We Must Pace the Frontier,” proposing that frontier labs give embedded third-party evaluators (such as METR) “ongoing, employee-like access” to verify safety practices, with Anthropic committing unilaterally and Altman saying OpenAI “will do the same.” Asked directly whether 2027 replaces 2026, Altman said “I would say not 2026 … we got a lot of stuff to do, like meeting this moment of what is going to be required for safety and alignment.” Musk endorsed the same pacing framework within hours, per Bloomberg’s reporting. The divergence is the fact for this thread: reporting the same weekend states Anthropic’s own IPO marketing is still on track for as early as mid-October at the ~$2 trillion valuation this thread already carries — unchanged by the essay, and landing one day after Nvidia moved to anchor that same IPO with up to $10bn (see the entry below and Nvidia as Lender). The two labs converged on identical safety language and reached opposite conclusions about their own public-market timing. (Dario Amodei, “We Must Pace the Frontier”, Fortune, exclusive interview, Bloomberg, CNBC)
• ⚠️ The essay and the Fortune interview both published 09-12 (Saturday). Logged under its true date.

2026-09-12 — Nvidia moves to anchor Anthropic’s IPO with up to $10bn, as the raise grows to $100bn at a $2-2.3T target

• Nvidia is in talks to become an anchor investor in Anthropic’s IPO, weighing an investment of up to $10 billion, per a Reuters exclusive (first published 09-11 evening, widely republished 09-12) — a new figure and a new mechanism for this thread: Anthropic is now reportedly seeking to raise as much as $100 billion (up from the sub-$100bn figures already logged) at a valuation of roughly $2-2.3 trillion, which would make it the largest IPO in history if it lands on those terms. An anchor investor commits to buy a substantial share of an offering before it’s marketed more widely — this would be Nvidia’s first anchor role in a frontier-lab listing, distinct from the direct equity stakes it holds in AI-infrastructure customers (see Nvidia as Lender). The offering is still targeted to price before the November US midterms, unchanged from this thread’s 09-09 entry. Terms remain under discussion and could change; unconfirmed by either company. (Bloomberg, citing Reuters, Yahoo Finance)
• This resolves the thread’s own 09-09 flag on the $65bn+ revenue figure: it now traces to the same Reuters reporting on the Nvidia anchor talks, not just secondary aggregation. Reuters puts Anthropic’s annualized revenue run rate at over $65 billion by end of July 2026 (up from roughly $9 billion at end of 2025), with company projections of $190-200bn revenue in 2028 cited as underpinning the $2T-plus target valuation. Still not a company-published or audited figure, but no longer merely secondary aggregation as this thread’s 09-09 entry cautioned.

2026-09-09 — Anthropic’s IPO timeline slips again, and its credit line grows sixfold as banks buy into the underwriting book

• Anthropic’s IPO timeline has moved to no earlier than mid-October — from September/early-October previously on this thread — landing just before the November midterms, per Reuters (via CNBC, 09-05) and Forbes (09-07), both later than the 08-20/08-31 reporting this thread had been carrying. This is the thread’s fourth dated-timeline shift since it opened; each has pushed later rather than earlier. (Reuters via CNBC, Forbes)
• Anthropic’s revolving credit facility grew sixfold to $15bn, from roughly $2.5bn a year ago, with Morgan Stanley leading a 17-bank syndicate. Forbes frames the growth as banks buying into the IPO underwriting book through the credit facility rather than a pure lending decision — a mechanism this thread hasn’t carried before, distinct from the secondary-sale and insider-lockup mechanics already logged 08-27/08-29. ⚠️ A reported $65bn+ annualized-revenue figure (up from the $11.5bn Q2 print already on this thread) appears only in secondary aggregation this pass and is not adopted as fact — it needs primary-source or direct Bloomberg/Reuters confirmation before this thread treats it as real. The $2T+ valuation chatter is unchanged and remains investor talk, not company-confirmed. (Forbes)

2026-08-31 — The US government quietly sold FTX-forfeited Anthropic shares between two funding rounds, losing billions it never priced

• Caroline Ellison and Nishad Singh put $50m into Anthropic in 2022 while helping FTX misappropriate customer funds; after their forfeiture orders (Ellison 2025-02-18, Singh that April), the US Marshals Service quietly sold both blocks to existing Anthropic cap-table investors — no public buyer list, unlike the FTX estate’s own comparable 2024 exit (publicly disclosed at $884m, buyers including Jane Street and an Abu Dhabi sovereign fund). The sale landed between Anthropic’s $61.5bn round (2025-03-03) and its $183bn round six months later; the company has since raised again at $965bn (May 2026) before confidentially submitting a draft S-1 four days after that. PitchBook/UCLA now value the forfeited stake at $2.6-5bn — money the government left on the table by exiting early rather than waiting on Anthropic’s own valuation ladder. Reported 08-31 (Money Stuff carried it as its closing item). (Yahoo Finance/Barron’s syndication, Bloomberg Opinion, “Don’t Hedge the KPIs”, CryptoTimes)

2026-08-31 — A second revenue engine gets a public number at the same moment the S-1 does not appear

• OpenAI’s first public figure for its advertising business — $1bn annualized run rate in under 200 days, 40-plus countries, self-service buying opening across India, Europe and MENA — arrives on the same day Anthropic’s public S-1 was expected and did not appear. Read against this thread, the two facts point the same way: the labs are being pushed to show diversified, non-subscription revenue ahead of public-market access, and they are doing it on different schedules and through different disclosure channels. OpenAI chose a newsroom post with a run-rate figure and no audited comparison; Anthropic’s route runs through EDGAR, where nothing has been filed as of this morning. ⚠️ This is an interpretive pairing, not a reported connection — neither company linked the two. (OpenAI newsroom, CNBC)

2026-08-27 — Anthropic reportedly weighs letting insiders sell into the IPO itself, departing from the SpaceX playbook

• Anthropic is reportedly weighing a secondary-sale component in its IPO — letting early investors and insiders sell existing shares alongside the company’s own new-share raise — rather than following SpaceX’s tighter insider-lockup approach, per The Information (08-27). This is a mechanics question this thread hasn’t carried before: not valuation or timing, but who gets liquidity and when, which bears directly on whether the >$100bn “raise” figure already on this thread is genuinely new company capital or partly existing holders cashing out. Alternative middle-ground options (capped insider-sale volume, extended lockups) are also reportedly under consideration, so the shape isn’t settled. ⚠️ Reported, not filed — no S-1 language on this point yet. (The Information)

2026-08-26 — Anthropic commits $45bn to a UK neocloud, the same shape as OpenAI’s Oracle bet

• Anthropic committed $45 billion over six years to lease AI computing capacity from UK neocloud Nscale — 460MW of Nvidia Vera Rubin-chip capacity at Nscale’s Monarch campus in West Virginia — reported same-day by Bloomberg, Reuters, CNBC and the FT, with Forbes (08-28) and a West Virginia local paper (08-29) still adding site-level detail two days later. This is the same shape as OpenAI’s Oracle Stargate commitment (Oracle’s Stargate Bet) and CoreWeave’s contracted backlog (CoreWeave Bet) landing on Anthropic for the first time on this thread: a frontier lab locking in a multi-year, multibillion-dollar compute liability just ahead of the IPO whose S-1 will have to defend it against realised revenue. Cross-refs Oracle’s Stargate Bet, Circular Financing. ⚠️ Sourced to “people familiar with the matter” across outlets; no company statement or filing. (CNBC, Reuters)

2026-08-27 — A legal overhang clears ahead of the Anthropic listing

Anthropic won a permanent injunction against the Pentagon’s supply-chain-risk designation, clearing a named legal overhang days before its expected S-1 flip on 08-31. ⚠️ The IPO mechanics circulating today are not new — the prospectus-after-Labor-Day, mid-September investor-day and $1.5-2T valuation-talk reporting all originate from a 08-27 story and today’s volume is re-syndication. ⚠️ An implied $2T Anthropic valuation reported from a tokenized private-share market is explicitly NOT adopted here — it is a synthetic price signal with no filing, term sheet or banker confirmation behind it. (CNBC)

2026-08-26 — Analysts start doing the arithmetic on Anthropic’s $30tn pitch

• Analysts pushed back on Anthropic’s $30 trillion addressable-market pitch, noting that all S&P 1500 technology companies combined generate roughly $2.4 trillion of annual revenue. NYU’s Aswath Damodaran was among those quoted. The pitch itself is filed under 08-25; what is new is the arithmetic objection, and it is the specific number the prospectus will have to defend against $11.6bn of realised Q2 revenue. (TipRanks, summarizing the WSJ report)

2026-08-25 — Anthropic’s IPO pitch puts a number on the whole opportunity: over $30 trillion

• Anthropic is preparing to tell IPO investors its total addressable market exceeds $30 trillion — above the $28.5 trillion SpaceX showed investors before its own offering — per the Wall Street Journal. The TAM is built on the full scope of work that could be done by AI models rather than on any served market. Alongside it: revenue more than doubled to $11.6bn in Q2, the prospectus is expected shortly, and a debut is possible as early as September or early October. This is the third escalation on this thread in five days and they stack in one direction: a reported >$100bn raise (08-24), a reported $2tn-or-more target valuation (08-25 morning), and now a TAM framing designed to make both look conservative. The $11.6bn is the number to hold onto — it is the only one of the four that is a realised result rather than a projection, and $30tn against $11.6bn is the ratio the prospectus will have to defend. Cross-refs Fidelity Buys Into the AI Labs. (Quartz, Reuters via Investing.com)

2026-08-24 — Matt Levine asks who should control Anthropic, the same week its IPO chatter escalates

• Bloomberg’s Matt Levine devoted his 08-24 Money Stuff column to “Who Should Control Anthropic?” — a governance question about the company this thread is tracking through its S-1 risk factors and IPO chatter, running the same week the raise target escalated (below). The column itself is paywalled past its RSS headline and timestamp, so its argument isn’t recoverable here; logged for the fact that a flagship markets commentator is asking the control question in print, not for what he concludes. (Bloomberg Opinion — Money Stuff, dated Mon 24 Aug 2026 18:18 GMT)

2026-08-24 — Bankers reportedly guide investors toward a $100bn+ raise, escalating past this thread’s own benchmark

• Anthropic’s bankers are reportedly guiding investors toward an IPO raise of more than $100bn — enough to “match or beat” SpaceX’s $85.7bn record — with the company approaching a $2 trillion valuation and a possible listing “as soon as October.” This escalates past the $75-86.2bn range this thread had been benchmarking the chatter against as of 08-20/08-21. No company statement or filing; sourced to the New York Times via a Daily Sabah pickup, plus CNBC’s separate reporting on the S-1’s risk-factor language. (Daily Sabah)

2026-08-21 — A lab prices community opposition into its prospectus

• Anthropic will name public opposition to data-center construction as a risk factor in its public S-1, CNBC reported, with CFO Krishna Rao running test-the-waters meetings ahead of a filing expected as soon as end of August. For this thread — labs converting private, vendor-financed valuations into public currency — this is the first instance of a frontier lab putting local politics into a securities filing as a named threat to growth. It is the mechanism by which municipal moratoria reach a lab’s cost of equity. (CNBC, Gizmodo)

2026-08-21 — Citigroup joins the bank slate; the $2T number gets a revenue forecast under it

• Anthropic added Citigroup to its slate of lead IPO underwriters, per Bloomberg-sourced reporting Thursday evening, and its pre-IPO credit line is reported to be growing as banks angle for underwriting roles. (Yahoo Finance / Bloomberg)
• The ~$2T valuation target is now reported to rest on a $190-200bn 2028 revenue forecast — the first time this thread has had a number underneath the valuation rather than beside it. That is the figure to hold onto: it converts an unfalsifiable valuation into a testable claim about revenue two years out, and it is the one an S-1 will have to either support or quietly drop. (AOL / Bloomberg)
• ⚠️ Correction to this thread’s own SpaceX figure. The watch text and prior entries carry SpaceX as “trading ~15% below issue at all-time lows”. That is no longer true: shares recovered above the $135 IPO price by 2026-08-10 and traded around $145 by mid-August, though a ~1bn-share unlock hit on 08-19/20. The live test this thread is built on has been going better than the thread says.

2026-08-20 — Anthropic moves from a confidential draft to an imminent public filing

• Anthropic is preparing to file its IPO paperwork publicly “as early as the end of August” — a status change from the confidential S-1 it filed on 2026-06-01, reported by Bloomberg at ~15:20 ET and picked up across dozens of outlets overnight. The company is targeting a raise that matches or beats SpaceX’s record $75-86.2bn, against the ~$2T valuation target this map first logged as investor chatter yesterday. The distinction that matters: a confidential draft is a company keeping options open; a public filing starts a clock and puts the financials in front of everyone at once. (Yahoo Finance / Bloomberg)

2026-08-20 — Anthropic targets matching or beating SpaceX’s record IPO raise

• Anthropic expects its IPO to match or beat SpaceX’s record $75B raise, with a public S-1 filing possible before month’s end. For this thread’s “who lists first, at what haircut to the private print” question, this is a new benchmark measured directly against the thread’s own live comparator — the dollar amount SpaceX actually raised (06-12, $1.77T valuation), not just a valuation multiple. Single-sourced to Bloomberg (“people familiar with the matter”); full detail and the sourcing caveat on Anthropic IPO. (Bloomberg)

2026-08-17 — The revenue number behind the Anthropic listing

• Anthropic’s Q2 revenue exceeded $11.5B, up roughly 14x year-on-year — reported by Bloomberg on 2026-08-14. Preliminary figures from documents Bloomberg reviewed: $11.5B against $787M in Q2 2025 and $4.73B in Q1 2026, with positive adjusted operating income for the quarter. For a thread about what public markets will pay for an AI story, this is the single most material input on the candidate closest to listing — and it was absent while the thread carried the listing’s timing in detail. (Bloomberg, CNBC)
• The gap is instructive about this thread’s own coverage shape. The 08-15 entry below records the IPO timeline firming to a September–October Nasdaq target with investor meetings underway and backers pressing management on Chinese model competition — a process-and-sentiment read with no fundamentals attached, written the day after the fundamentals published. Logged under its true date; the 08-14 and 08-15 digests are not reopened.

2026-08-15 — SpaceX recovers above issue price on its first earnings; Anthropic’s IPO timeline firms, and a seller picks its stock over cash

• SpaceX (SPCX) reported its first-ever quarterly earnings as a public company on 08-04: $7.81B revenue (+92% YoY, beating estimates of $6.81B), Starlink subscribers doubled to 12M, adjusted EBITDA up 191% to $3.5B, and net loss narrowed to $541M from $1.01B a year earlier. The first real test of what the public market pays for the SpaceX story once actual financials, not just the IPO print, were on the table. (Yahoo Finance)
• SPCX closed above its $135 IPO price for the first time in weeks on 08-10, having gained roughly 35% since 08-05 — a 911.5M-share lockup expiration on 08-06 that Wall Street expected to crash the stock instead triggered a short squeeze. Reverses the 07-30 entry below (stock ~15% under issue, short interest ~35% of float) within the same two-week window — the “does the public market believe this story” question this thread exists to track swung hard in one direction and then the other. (CNBC, 24/7 Wall St.)
• Anthropic’s IPO chatter firmed into a concrete timeline: WSJ reports (08-11) the company is targeting a September or early-October listing, ahead of OpenAI, and is already holding investor meetings where prospective backers are pressing on cheaper Chinese AI models, tensions with the Trump administration, and local opposition to data-center construction — a materially more advanced stage than the 07-30 entry’s “chatter… cold feet” framing. Confidential S-1 was filed 06-01; the ~$965B-$1T valuation range referenced 07-30 is unchanged as of this report. (Investing.com)
• Calcalist reported Anthropic’s bid for Israeli AI startup Decart firmed at roughly $7B (from ~$6B mid-week, a ~50% premium to Decart’s $4B last round), with advanced Nvidia-Decart talks halted once Anthropic entered — Decart’s founders and lead investor Sequoia Capital preferred Anthropic’s offer over a reportedly higher Nvidia cash bid because Anthropic is paying in its own stock. For this thread’s “who lists first, on what terms” question, the signal here is in deal behavior rather than IPO chatter: a private seller valued unlisted Anthropic equity above cash from an already-public company, weeks before Anthropic’s expected September listing. Signing is expected “as soon as next month.” (Calcalist)

2026-08-13 — Investors now targeting a $2T October listing for Anthropic

• Multiple outlets (Fortune, corroborated by Bloomberg 08-14) report Anthropic’s backers/investors are now targeting a $2 trillion valuation for an October 2026 listing — which would surpass SpaceX’s $1.77T IPO as the largest ever, with Morgan Stanley/Goldman Sachs/JPMorgan reportedly underwriting. sev=major: a doubling from this thread’s last-logged ~$965B–$1T figure (08-15). Caveat carried in the reporting itself — the $2T figure comes from backers, not the company; Anthropic hasn’t confirmed a date, valuation, or exchange. (Fortune, Bloomberg)

2026-07-30 — SpaceX completes the round trip

• SpaceX (SPCX) closed at $114.87 on 07-30, down 49.1% from its all-time high of $225.64 (06-16) and now ~15% below its $135 IPO issue price — the stock rallied to nearly 67% above issue before crashing back through it, erasing over half its peak value. (stockanalysis.com)
• Short interest on SPCX reached ~$26B, roughly 35% of the entire float.
• Anthropic IPO chatter firmed toward a $1T valuation (from ~$965B), with a reported Amazon windfall and a Blackstone/Goldman JV floated — but “Wall Street is getting cold feet” per one outlet on the same number; figures lower-confidence, not independently verified.

2026-07-27 — Opened

• Meta-thread opened after the week SpaceX (listed 2026-06-12 at a $1.77T IPO valuation, Nasdaq:SPCX) slid to all-time lows 15% below its $135 issue, Anthropic reportedly filed confidentially ($965B, thin), and OpenAI’s 2027/$1T chatter continued.