Anthropic, OpenAI, and SpaceX are bigger than the last 25 years of tech exits

A new analysis suggests that the projected market valuations for Anthropic, OpenAI, and SpaceX could collectively exceed the combined value of all U.S. venture-backed exits recorded since 2000. This shift underscores a fundamental change in the technology sector, where a small cohort of capital-intensive private companies is now reaching scales that historically required the cumulative output of thousands of smaller startup acquisitions and public offerings.