The IPO filings by SpaceX, OpenAI, and Anthropic have created a pipeline of US tech offerings worth approximately $3.6 trillion. That wave is going to generate appetite for European tech deals too, according to Ygal el Harrar, global head of equity capital markets for the technology industry at BNP Paribas.
“Liquidity attracts liquidity,” he said in an interview in Paris. “If you’re having big tech companies listing in the US, it’s going to make babies and it’s going to feed the economy.”
The US pipeline
SpaceX filed its public S-1 in May, targeting a Nasdaq listing at roughly $1.8 trillion, which would make it the largest IPO in history. Anthropic filed confidentially at a $965 billion valuation, with OpenAI following days later at $852 billion.
Together, the three companies could add $3.6 trillion in market value to US exchanges by the autumn. SpaceX is expected to price as early as this week, with Anthropic targeting October and OpenAI targeting September.
