# Opinion: investors should heed SpaceX's $1 trillion wipeout before backing Anthropic IPO

Digest AI · Business & Funding · published 2026-09-19T09:10:00Z

Canonical: https://digestai.news/story/opinion-investors-should-heed-spacex-s-1-trillion-wipeout-before-backi

## Summary

Space Exploration Technologies (SPCX) went public with a $2.7 trillion valuation after raising nearly $86 billion. Within weeks the stock fell below its $150 opening price, wiping out more than $1 trillion of market value as investors grew uneasy about the company’s AI spending spree. AI capex jumped 308% to $28.5 billion, 86% of total capex, while sales in the same period were $12.5 billion.

Anthropic may go public as soon as next month and reports an annualized revenue run rate of $65 billion, roughly seven times its 2025 sales. The firm has not disclosed its capex, but analysts expect heavy AI‑capacity investment. Jefferies research on IPOs over two decades shows firms valued above $10 billion average a 26.5% first‑week return but only a 3.5% gain over the first year, and investors are now skeptical of high AI spend.

The column argues that, given SpaceX’s recent volatility and the historical IPO performance, potential Anthropic investors would be wiser to sit out the offering rather than buy at the debut.

## Key points

- SpaceX’s valuation fell by more than $1 trillion in a month after AI‑spending concerns, with shares trading below the $150 opening price.
- SpaceX’s AI capex rose 308% to $28.5 billion, representing 86% of total capex while sales were $12.5 billion in the same period.
- Jefferies research shows companies >$10 billion IPOs average 26.5% first‑week gain but only 3.5% return over the first year.

## Why it matters

The piece highlights how massive AI spending can erode investor confidence, suggesting that Anthropic’s IPO may face similar volatility despite strong revenue, which could affect capital markets and AI sector funding.

## Sources

1. [What potential Anthropic investors can learn from SpaceX's $1 trillion wipeout](https://fool.com/investing/2026/09/19/anthropic-ipo-lesson-investors-learn-spacex) (fool.com, 2026-09-19)

## Cite

Digest AI, "Opinion: investors should heed SpaceX's $1 trillion wipeout before backing Anthropic IPO", 19 September 2026, https://digestai.news/story/opinion-investors-should-heed-spacex-s-1-trillion-wipeout-before-backi

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