A live Term Sheet meetup of investors agreed SpaceX, OpenAI, and Anthropic will reward a sliver of venture. But most of the industry will be watching from the sidelines.

OPINION: Investors weigh record SpaceX valuation ahead of listing.

SpaceX targets a $75 billion IPO at a $1.75 trillion valuation, allocating up to 30% of shares to retail investors through Fidelity and Robinhood.