المنشور

AI investing is splitting in two, and this week is showing both extremes at once. SpaceX's IPO has pulled in $250B in demand, nearly 4x its $75B target. Pricing lands June 11 at $135/share, implying a $1.75T valuation. OpenAI confidentially filed its S-1 targeting a September debut at $1T+. Anthropic filed the same week, eyeing an October listing. Three of the biggest AI names are heading to public markets in the same cycle. Then SemiAnalysis sent a report to institutional clients flagging delays in Nvidia's Co-Packaged Optics rollout. Optical stocks got hit hard: · AAOI -14% · Coherent -11% · Lumentum -8% · Marvell -15% · AMD -10% Nasdaq fell 3.5%. Markets shed roughly $2T in a session. There's a crypto angle buried in all of this. SpaceX's S-1 discloses 8,285 BTC on its balance sheet. Going public puts that Bitcoin exposure into TradFi hands for the first time. But the same IPO wave is also pulling capital out of crypto. SpaceX, OpenAI, and Anthropic together are estimated to absorb $240B+ by year-end, and BTC already fell below $60K last week as investors repositioned. Primary markets are pricing a perfect AI future. Secondary markets are asking harder questions about timelines. SpaceX, OpenAI, Anthropic. If you could only get allocation in one, which are you picking? #SpaceXIPOvsOpticsCrash