[If SpaceX, Anthropic, and OpenAI Go Public on U.S. Stock Markets, Potential IPO Value Could Surpass the Total U.S. VC Exits of the Past 25 Years] According to a report by the National Venture Capital Association (NVCA) and PitchBook, if SpaceX, Anthropic, and OpenAI all go public, the enterprise value created by these three tech giants could exceed the total exit value of U.S. venture capital-backed companies since 2000. This is due to the extremely high valuation expectations for the three companies: SpaceX is currently valued at approximately $1.77 trillion, while Anthropic and OpenAI are also advancing toward multi-trillion-dollar valuations. The market estimates that the combined valuation of the three companies could exceed $4 trillion. Data shows that last year, total IPO fundraising in the U.S. was approximately $70 billion, while SpaceX alone has reached a valuation level that traditional large IPOs find hard to match. The potential IPO scale of SpaceX, Anthropic, and OpenAI will test the capacity of the U.S. capital markets.