★ Must ReadAnthropic is having a moment in the private markets; SpaceX could spoil the party
Anthropic is commanding the strongest secondary market trading activity among private AI companies, while OpenAI's valuation momentum has cooled in comparison. SpaceX's anticipated IPO could redirect investor capital away from private tech shares, potentially deflating valuations for companies like Anthropic that currently benefit from robust late-stage investor demand. The shift reflects both genuine differentiation between AI players and broader portfolio rebalancing risk for late-stage private investors. Monitor both Anthropic's Series C and SpaceX IPO timing as leading indicators of private market sentiment.