With SpaceX, Anthropic, and OpenAI set to go public, millions of Americans could soon own shares of AI companies whether they want to or not.

With listings now occurring later in a company’s life cycle, there could be implications for post-IPO share price performance

I invited Jonathan Rose to explain his thoughts, using the collapse of Figma stock after its IPO as the blueprint.

Upcoming trillion-dollar IPOs from SpaceX, OpenAI, and Anthropic are set to redefine market valuations, asking investors to wager heavily on uncertain futures. These companies are…