Artificial Intelligencer: AI chatter turns to costs and tokens ahead of IPOs

As the AI IPO race accelerates, industry chatter shifts from headline valuations to the mechanics that underwrite them. Anthropic quietly filed for a public listing ahead of rival OpenAI, and SpaceX signals a public debut next week, aligning a broader push by AI-focused firms toward the market. SpaceX is targeting a $75 billion raise at a $1.75 trillion valuation, a level that would place it among the world’s most valuable companies and dramatically heighten the stakes in the current IPO window. Reuters described the moment as potentially spawning three trillion-dollar IPOs in quick succession, a scenario that would test investor appetite for AI-enabled growth and demand greater discipline around quiet-period rules.