SpaceX vs Anthropic: Which IPO to Buy

SpaceX and Anthropic are among three trillion-dollar companies expected to IPO in 2026, alongside OpenAI. SpaceX shares start trading June 12 at a ~$1.77 trillion valuation, with $18.7 billion in 2025 revenue but a $4.9 billion net loss. Anthropic, which filed a confidential S-1, has a $47 billion revenue run rate and expects to generate more revenue in the current quarter than all of last year.