All of that leaves SpaceX, OpenAI, and Anthropic in a category of their own. OpenAI now tops Crunchbase’s unicorn board, SpaceX is No. 2, and Anthropic is in fourth place. “There’s going to be a huge appetite for these companies should they list,” Teare said, adding that in past cycles, “when large companies go out, that creates a lot of energy in the markets for other companies to also go out.”
The catch this time is that the trio is “so huge, and they’re very much outliers,” raising the question of whether their eventual IPOs will jumpstart a broader backlog of SaaS and AI names—or simply “suck a lot of the money and energy out of the room” while everyone else keeps waiting.
See you tomorrow,
