SpaceX, OpenAI and Anthropic Race to Go Public

Andrew here. Here we go: Both SpaceX and OpenAI may be going public within weeks, or months, of each other. We dive deep into the SpaceX prospectus — note not just the numbers, but the unusual governance structure — and what an OpenAI I.P.O. could look like.

Also, we’ve got some highlights from my interview with Jeff Bezos. And we look at Barney Frank’s legacy. I always found him insightful and refreshingly candid. I remember him once telling me, for an article about the financial crisis: “You get no credit for disaster averted or damage minimized.” A friend made him a bumper sticker in 2010 with the slogan: “Things would have sucked worse without me.”

SpaceX vs. OpenAI vs. Anthropic

Elon Musk’s SpaceX just publicly took the wraps off the prospectus for its I.P.O., by far the biggest in history. But Wall Street on Thursday is wondering not only how investors will digest that megadeal, but also two other potential offerings — from OpenAI and Anthropic — hot on its tail.

Article source: https://www.nytimes.com/2026/05/21/business/dealbook/spacex-openai-anthropic-ipo.html