Can the Stockmarket Swallow Anthropic, SpaceX and OpenAI?

The Economist examines whether public equity markets can absorb simultaneous multi-hundred-billion-dollar IPOs from Anthropic, SpaceX, and OpenAI — all expected to list within the next 12 months following Anthropic's confidential S-1 filing and $965B post-money valuation. The analysis questions whether index inclusion mechanics, institutional float constraints, and passive fund inflows can accommodate listings of this scale, and whether the AI premium embedded in current private valuations survives the scrutiny of quarterly public-market reporting. The piece runs the same week Anthropic files its S-1, making it a direct editorial counterweight to the bullish IPO narrative.