The potential initial public offerings (IPOs) of SpaceX, Anthropic, and OpenAI could collectively exceed the total exit value of US venture capital-backed companies since 2000, according to a report by the National Venture Capital Association and PitchBook. SpaceX is currently valued at approximately $1.77 trillion, while Anthropic and OpenAI are also approaching trillion-dollar valuations. The combined valuation of these three tech giants is expected to surpass $4 trillion. Last year, US IPOs raised about $70 billion, but SpaceX's valuation alone already challenges the scale of traditional large IPOs. The potential listings of SpaceX, Anthropic, and OpenAI will test the capacity of the US capital markets to absorb such significant offerings.