Anthropic IPO: 1 Key Lesson Investors Can Learn From SpaceX

SpaceX's IPO experienced significant volatility after investors grew concerned about the company's massive AI spending ($28.5B capex with 86% going to AI infrastructure) despite modest revenue ($12.5B). Historical data shows large IPOs average only 3.5% returns over 12 months despite strong first-week gains. The article warns that Anthropic's upcoming IPO could face similar investor skepticism regarding heavy AI infrastructure spending, suggesting investors should wait rather than buy at IPO launch.