Unprofitable Tech IPOs Eye $3T S&P 500 Boost Amid Profitability Risks

Reuters analysis warns that a massive IPO wave from SpaceX, OpenAI, and Anthropic could inject roughly $3 trillion into U.S. equity markets, challenging investor tolerance for high-valuation, loss-making tech giants. SpaceX targets $1.75 trillion despite a $5 billion loss on $18.6 billion revenue last year, OpenAI seeks $1 trillion, and Anthropic holds a $380 billion valuation. S&P 500 inclusion rules demand four profitable quarters and 12 months of trading, potentially delaying $20 trillion in passive inflows and heightening index concentration risks from mega-caps.