SpaceX, Anthropic, and OpenAI are preparing for massive US IPOs that could collectively raise over $150 billion, drawing intense investor scrutiny on

Anthropic has confidentially filed for an IPO just days after SpaceX's S-1. The AI startup's public-market ambitions could spark a battle for investor attention and growth capital.

The companies driving artificial intelligence need access to ever-increasing amounts of capital at ever-increasing valuations. That makes them vulnerable.