Anthropic Files to Go Public. SpaceX Eyes $1.75 Trillion. The IPO Window Is Wide Open.
Two of the most valuable private companies on earth moved toward the public market this week. You can't buy either yet — so the trade is in the plumbing: the banks and the suppliers.
Based on WSJ reporting (Kate Clark, Corrie Driebusch) · Capital Wealth analysis by Sean Anees Saifi · June 3, 2026
The IPO window is the widest it has been since 2021.
The Week the Giants Lined Up
Anthropic, the AI lab, filed confidentially to go public at a valuation reportedly near $1 trillion, with plans to raise a staggering amount of equity. The same week, SpaceX was reported to be eyeing a tender offer that values it at roughly $1.75 trillion. Add the other names rumored to be circling the exits, and you have the fullest pipeline of blockbuster IPOs since 2021.
Here's the practical problem for ordinary investors: you can't buy Anthropic or SpaceX shares today — only insiders and pre-IPO holders are positioned. So how do you participate in the wave without being able to buy the headliners?
Own the Plumbing, Not the Headline
The cleanest public-market expression of an IPO boom is the firms that run the deals. Goldman Sachs (GS) and Morgan Stanley (MS) earn fees underwriting these offerings, and a fat pipeline means a multi-quarter tailwind to their advisory businesses. Goldman also raised its year-end S&P target again this week — a vote of confidence in its own tape.
The second layer is the suppliers. Every AI giant that goes public has to keep buying compute, networking, and power — which flows to Nvidia (NVDA), Broadcom (AVGO), Marvell (MRVL), and the power names. The IPO is the headline; the picks-and-shovels are the position.
What This Means For The Book
We reinforced Goldman Sachs (GS) and Morgan Stanley (MS) this week as the cleanest way to own the IPO wave, and we continue to favor the AI-infrastructure suppliers over trying to chase the mega-cap private names into their floats. When you can't buy the headline, buy the plumbing.
