SpaceX Lowers IPO Valuation Target | Bloomberg Tech 5/29/2026

Valuation target lowered to $1.8 trillion

SpaceX reduced its IPO valuation target from the $2 trillion reported in April, though Elon Musk publicly disputed the lower figure as "False" amid pre-listing positioning.

Revenue multiple reaches 96x sales

Based on projected 2025 revenue of $18.7 billion, the $1.8 trillion valuation implies a 96x price-to-sales multiple, far exceeding typical software company multiples of 10x.

Prospectus cites $28 trillion TAM

The company outlined utopian growth projections including a $28 trillion total addressable market and goals to put one million people on Mars.

Record $965 billion valuation achieved

Anthropic closed a $65 billion funding round at a $965 billion valuation, exceeding OpenAI's $900 billion pre-money valuation for the first time in the AI race.

Revenue run-rate nears $50 billion

The company doubled its annual run-rate revenue to nearly $50 billion in mere months, scaling from negligible product sales just three years ago.

Massive private credit deal arranged

Apollo and Blackstone are syndicating a roughly $36 billion private credit transaction to fund Anthropic's infrastructure buildout, potentially the largest such deal in the sector.

IPO planned for fall 2026

Despite the massive private funding, Anthropic maintains plans to go public as soon as this fall alongside rival OpenAI, targeting massive tech IPOs.

Dell raises AI server forecast to $60 billion

Dell increased its AI server revenue guidance by $10 billion to $60 billion for the year, triggering a 31.5% single-day stock surge to record highs.

Demand broadens beyond hyperscalers

Dell CFO David Kennedy emphasized growth is "broad-based" across cloud providers, sovereign entities, and enterprise customers rather than concentrated with single hyperscalers.

Memory bottleneck creates investment opportunity

Industry executives identify memory as a critical supply bottleneck expected to persist for two years, benefiting semiconductor companies like Micron which surpassed $1 trillion market capitalization.

Asian tech stocks surge on AI demand

Lenovo shares doubled in May for their best monthly performance in 25 years, while Taiwan forecasts 40% export growth driven by AI infrastructure demand.

Private credit pivots to AI infrastructure

Major private credit firms are redirecting capital from SaaS lending to AI infrastructure deals, viewing the sector as the "great savior" to reduce portfolio concentration risks.

Investors fund disruption of their own portfolios

There is growing irony of private credit firms funding AI companies like Anthropic whose products may disrupt the software companies currently dominating lender portfolios.

Knowledge worker displacement predicted

Analysts forecast 50% displacement of knowledge workers could occur within three to five years as AI deployment moves from training to inference and automation.