00:00 Jared
SpaceX is not the only company that’s embarking on a blockbuster IPO this year.
00:07 Jared
Wall Street also hotly anticipating OpenAI and Anthropic also going public.
00:13 Jared
Let’s start with Sam Altman.
00:14 Jared
So he’s having a dispute potentially with his CFO about the timing of the IPO.
00:21 Jared
And I I hear, I keep reading rumors that ChatGBT 6 is about to drop.
00:27 Jared
And this is a company that’s been in code red for months, basically all the entire year because they’re trying to catch up to Gemini and and just trying to stay afloat.
00:36 Jared
Like, how much is riding on the actual IPO here?
00:39 Speaker B
I think there’s a lot riding on it. I think trying to keep up every day with uh Anthropic has got to be putting just incredible stress on, you know, Sam and Sarah, trying to figure out when the right moment is going to be to IPO this thing.
00:54 Speaker B
And and the rumors of tension are interesting, but anyone that’s run a company knows that there’s always a CFO standing next to behind the CEO.
01:00 Speaker B
Hey, I’m not sure how you plan to pay for this big vision.
01:03 Speaker B
You know, he’s got $600 billion at least after a kind of a tuned down expense plan for how much compute he needs to buy.
01:13 Speaker B
Like I said, he’s going week after week. You got Google up, uh, you know, on one side of him, you got Anthropic on another side of him.
01:21 Speaker B
And of course, he’s chasing market share on this really, um, you know, interesting cash burning business.
01:28 Speaker B
Like people are like, hey, how are you supposed to be a trillion dollar company?
01:32 Jared
Where’s the moat? I think that’s what I’m wondering here. It seemed like they had a huge moat before and it’s somewhat evaporated.
01:38 Jared
Any thoughts on SpaceX or any other big of the other big ones coming out?
01:41 Speaker B
SpaceX is an incredibly exciting uh space exploration IPO, right?
01:46 Speaker B
We’ve seen a lot of demand around some of the other companies, smaller companies, ASTS, Rocket Lab, have had this really strong market momentum.
01:54 Speaker B
Companies that are kind of future revenues, not current revenues. They’re basically winning the market.
01:59 Speaker B
But what I can’t figure out and what I don’t know how to uh basically provide the market is a justification in fundamentals.
02:08 Speaker B
How does 12 billion in revenue equate to put it this way, Jared, if if Nvidia had the same revenue multiple, I think it I figured it’d be worth more than it’d be more than a $50 trillion dollar company.
02:18 Speaker B
But the bottom line, Elon Musk comes with a premium.
