内容来源：https://techcrunch.com/2026/06/14/as-ai-companies-race-to-go-public-who-else-is-along-for-the-ride/

内容总结：

SpaceX上市引爆美股IPO热潮，AI巨头竞相跟进

本周，SpaceX完成史上最大规模IPO，其CEO埃隆·马斯克凭借此举成为全球首位万亿富翁。尽管名为太空探索公司，SpaceX却在招股中大力强调其高投入人工智能业务的潜力。受此提振，竞争对手OpenAI和Anthropic也相继秘密提交上市申请，科技IPO夏季热潮已然开启。

在TechCrunch最新一期《Equity》播客中，三位记者深入剖析了这一趋势。记者肖恩·奥凯恩指出：“SpaceX不仅吸走了公开市场大量资金，更在极限测试一家上市公司能被单一控制人掌控到何种程度。我尤其关注其他即将上市的科技公司会如何效仿。”记者克斯滕·科罗塞克则观察到，SpaceX的上市正产生“涟漪效应”——多家初创公司借势融资，例如在SpaceX带火“太空数据中心”概念后，已有企业以此为由寻求资金。

“市场正发生比‘SpaceX让马斯克成万亿富翁’这类标题更值得玩味的连锁反应。”科罗塞克说。她引用一篇评论文章称，科技巨头格局已从“FAANG”（Meta、亚马逊、苹果、Netflix、谷歌）转变为“MANGOS”（Meta、Anthropic、英伟达、谷歌、OpenAI、SpaceX），“流媒体巨头Netflix被踢出，取而代之的是一批AI实验室和SpaceX这样的深度科技公司，这标志着公开市场资本正从消费社交网络向AI与创新硬科技倾斜。”

值得注意的是，OpenAI与Anthropic之间已形成上市时间竞赛。分析师认为，公开市场资金和关注度有限，估值终将回归理性，因此两家公司均急于率先上市。科罗塞克对此表示担忧：“短期竞争或许能让它们抢占先机，但长远布局才更关键。”她补充道，SpaceX的成功正在催生一系列跟风者，如量子空间公司正通过SPAC方式借势上市，试图复制其辉煌。

此外，这股热潮已波及传统行业。福特和通用汽车正将闲置电池产能转向数据中心供电业务，福特股价因这一“相对保守”的储能计划而大涨。但科罗塞克警告：“过去七八年，无数公司试图复制‘下一个特斯拉杀手’或马斯克旗下企业的模式，结果大多失败。汽车公司CEO们该吸取教训了——并非所有模式都值得照搬。”

中文翻译：

SpaceX 本周上市，成为史上规模最大的首次公开募股，其首席执行官埃隆·马斯克也因此成为全球首位万亿富翁。

尽管名为 SpaceX，但该公司一直强调其高成本人工智能业务的潜力，而竞争对手 OpenAI 和 Anthropic 可能很快也会在公开市场上市。因此，在最新一期 TechCrunch 的 Equity 播客中，我与 Kirsten Korosec 和 Sean O'Kane 共同探讨了这个看似火爆的 IPO 之夏。

Sean 表示：“SpaceX 不仅吸走了公开市场上大量资金，还真正考验了一家上市公司能扩张到什么程度、以及能被一个人控制到什么极限。我真正关注的是其他即将上市的科技公司，以及它们在多大程度上会试图效仿 SpaceX。”

Kirsten 也指出，还有其他初创公司试图“乘上 SpaceX 的 IPO 浪潮”，例如在 SpaceX 帮助推广太空数据中心的概念后，有公司为此筹集资金。

她说：“所以市场上正在产生一种连锁反应，我认为这甚至比‘SpaceX 让埃隆成为万亿富翁’这样的头条新闻更有趣。”

以下是经过编辑整理的对话预览，力求简洁明了。

Anthony Ha：我想稍微从 SpaceX 的 IPO 本身扩展一下，因为除了埃隆·马斯克之外，这可能是一系列不同 AI 公司 IPO 的开端。我们之前讨论过 Anthropic 秘密提交上市申请，现在 OpenAI 也这么做了。你们两位对此有多兴奋？

Kirsten Korosec：首先我想说，我很喜欢 Julie Bort 的文章，我觉得它总结得非常到位。标题很精彩，我来读一下：“不再是 FAANG，而是 MANGOS。”FAANG 指的是 Facebook（现已更名为 Meta）、亚马逊、苹果、Netflix、谷歌（现已更名为 Alphabet）。

现在格局变了，变成了 Meta、Anthropic、英伟达、谷歌、OpenAI、SpaceX。当然，仍然有大型科技公司，但确实发生了转变，对吧？首先，这里面有好几个 AI 实验室，这和以前很不一样。Netflix，这个庞大的流媒体服务，被踢出了这个组合。所以对我来说，这是一个有趣的转变，公开市场以及其中海量的资金正在从消费者和社交网络转向 AI 实验室以及其他更具创新性的硬科技，比如 SpaceX。

所以我认为这是最有趣的一点——除此之外，这个夏天作为记者，我们大概会比以往任何夏天都要忙碌。

Sean O'Kane：你知道吗，我曾经想当律师，没当成的一个原因就是讨厌文书工作。结果现在，我竟盼望着这个夏天能读几百页美国证券交易委员会的文件——这才是真正的“海边度假读物”啊。

这一刻我们期待已久。过去几年里，我们一直在想，在经历了很多对私募市场的担忧、以及对人们进行第几轮融资的嘲讽之后，所谓的 IPO 市场是否会“重新开放”。这是对公开市场整体的一次很好的压力测试——我说“很好”，你怎么理解这个词都行。

SpaceX 不仅吸走了公开市场上大量资金，还真正考验了一家上市公司能扩张到什么程度、以及能被一个人控制到什么极限。我真正关注的是其他即将上市的科技公司，以及它们在多大程度上会试图效仿。

关于 SpaceX，我一直在说也在想的是，他们真的试图把本世纪初谷歌和 Meta 最初 IPO 时某些最极端的方面，与亚马逊“永远亏损”的理念结合在一起。我很好奇 Anthropic 和 OpenAI 会在多大程度上也这么做。他们会按 SpaceX 的模样重塑自己吗？还是会试图呈现一个不同的形象？

Anthony：当我在阅读关于 OpenAI 的 IPO 报道时，一个让我印象深刻的方面是，其中很大一部分也涉及时机上的竞争。我认为现在可以相当肯定的是，SpaceX 已经率先起跑，这可能有其优势和劣势。它也是一家稍微不同的公司，因为它将自己标榜为 AI 公司，但显然还有很多其他业务。

但有一种观点是，至少根据一些分析师的看法，OpenAI 和 Anthropic 可能都想抢在对方之前上市，因为市场上的资本和投资者的兴趣是有限的。在某个时候，其中一些估值必须开始回归现实，所以它们可能都在争先恐后地成为第一个。

Kirsten：确实，Anthropic 和 OpenAI 之间存在明显的竞争。你甚至看到 OpenAI 在谈论降价，它们肯定也会在 IPO 时间表上竞争。但这是一种非常短视的思维。如果它们够聪明，就应该更关注长期的布局。

对我来说，真正有趣的是，当 Anthropic、OpenAI 和 SpaceX 都在为这些时刻做准备时，还有一大批其他公司正借着 SpaceX 这类公司的成功之光来筹集资金，或者投入特殊目的收购公司（SPAC）。就在今天，或者说在我们录制节目的同时，就有一家名为 Quantum Space 的公司正在通过 SPAC 上市，并且完全是想乘上 SpaceX 的 IPO 浪潮。

我们还有一大批初创公司，我们的记者 Tim Ferholz 曾报道过，它们显然不会上市，对吧？但如果 SpaceX 在太空数据中心方面取得成功，它们就会根据这种潜力来筹集资金，并围绕这种潜力建立业务。所以，市场上正在产生一种连锁反应，我认为这甚至比‘SpaceX 让埃隆成为万亿富翁’这样的头条新闻更有趣。

Sean：硅谷普遍接受的理论是，AI 正在重塑经济，但这是因为它的用途。而实际上，AI 已经因为人们试图构建它的方式，正在重塑经济。就像你刚才描述的，我们有这些公司争相涌入公开市场。我认为这是一个非常好的思考点：它们将来会不会后悔仓促上市？

但我们甚至看到福特和通用汽车这样的公司，正在将其未充分利用的电池产能转向为数据中心提供能源。福特在宣布了这个相比特斯拉而言相当不起眼的储能业务后，股价竟然上涨了。Tim De Chant 这周也写了一系列关于通用汽车战略转型的精彩报道。

经济已经在被重塑。至于这种重塑是否持久，那又是另一个问题了，但重塑正在发生。

Kirsten：这确实是一个很好的观点，因为对我来说，我想说在五、六、七、八年前，到处都是“下一个特斯拉杀手”这样的头条新闻，而这些汽车制造商和其他公司至今仍在试图复制各种业务，尤其是埃隆·马斯克旗下公司的策略。它们似乎并没有吸取教训。

我希望我能告诉所有汽车制造商的 CEO 们：我明白你们有很多闲置的电池，想要转向其他业务，但试图以特斯拉或 SpaceX 等公司为模板来打造自己的业务，并不总是行得通。也许应该看看别处。

Sean：所以你是在说，福特不应该涉足太空数据中心？

Kirsten：是的，它们不应该。但等着瞧吧，这种事肯定会发生。

英文来源：

SpaceX went public this week in the largest IPO ever, making CEO Elon Musk the world’s first trillionaire.
Despite its name, SpaceX has been emphasizing the potential of its costly AI business, and competitors OpenAI and Anthropic may soon follow with their own public market debuts. So on the latest episode of TechCrunch’s Equity podcast, Kirsten Korosec, Sean O’Kane, and I discussed what’s looking like a hot IPO summer.
“We have SpaceX not only sucking up just a huge chunk of the money that’s available on public markets, but also really stress testing the limits of what a public company can be and how much it can be controlled by one single person,” Sean said. “My eye is really on these other tech companies that will go public and how much they will try to emulate.”
Kirsten also noted that there are other startups trying to “ride that SpaceX IPO wave,” for example by raising money for orbital data centers after SpaceX helped to popularize the concept.
“So there’s a ripple effect that’s happening throughout the market that I think is probably even more interesting than just the headline, ‘SpaceX makes Elon a trillionaire,’” she said.
Keep reading for a preview of our conversation, edited for length and clarity.
Anthony Ha: I want to zoom out a little bit from just the SpaceX IPO, because beyond the Elon Musk of it all, it’s the beginning of what could be a [series] of different IPOs for different AI companies. We’ve talked about Anthropic confidentially filing to go public, and now OpenAI has done the same. How excited are either of you about this?
Kirsten Korosec: I want to start off by saying that I love Julie Bort’s story, which I think sums it up pretty nicely. It’s a great headline, so I’m gonna read it here: “It’s not FAANG anymore, it’s MANGOS.” FAANG being Facebook, which is now Meta; Amazon; Apple; Netflix; Google, now Alphabet.
Now it’s shifted, and we’ve got Meta, Anthropic, NVIDIA, Google, OpenAI, SpaceX. [We’ve still got] massive tech companies, surely, but there is a shift here, right? First of all, we’ve got a bunch of AI labs in there, and that’s very different. Netflix gets booted out of there, a giant streaming service. And so to me, it’s an interesting shift in terms of public markets and the vast amount of money and capital available in the public markets shifting away from consumer [and] social networks and towards, specifically, AI labs and other, more innovative deeptech, such as SpaceX.
So I think that’s the most interesting thing — aside from the fact that this summer is going to keep us all very busy as reporters, more than probably any other summer in a while.
Sean O’Kane: You know, once upon a time I wanted to be a lawyer, and one of the reasons I didn’t was because I hated the paperwork that was going to be involved. And here I am looking forward to reading hundreds more pages of SEC filings this summer — talk about a beach read.
It’s a moment we’ve been anticipating for a while. We’ve spent the last few years really wondering if the IPO market was going to quote-unquote “open back up” after a lot of consternation about private markets, and mockery about people reaching their like Series [whatever] fundraising round. This is a good stress test — I mean, “good,” take that word however you want — a good stress test of public markets in general.
We have SpaceX not only sucking up just a huge chunk of the money that’s available on public markets, but also really stress testing the limits of what a public company can be and how much it can be controlled by one single person. My eye is really on these other tech companies that will go public and how much they will try to emulate.
A thing that I keep saying and thinking about with SpaceX is, they’re really trying to take some of the most extreme aspects of Google and Meta’s original IPOs back in the early 2000s and mashing it up with that “We’ll lose money forever” with Amazon. And I’m curious how much Anthropic and OpenAI will try to do the same. Will they remake themselves in the image of SpaceX? Or will they try to put themselves in a different light?
Anthony: One aspect that really got driven home as I was reading about the OpenAI IPO is also the extent to which some of this is also a bit of a race in terms of timing. I think we can confidently say at this point, SpaceX is first out the gate, which probably has some advantages and disadvantages. It’s also a bit of a different company because it’s billing itself as an AI company, but obviously has a bunch of other stuff going on, too.
But there is a sense in which, at least according to some analysts, OpenAI and Anthropic may both want to go before the other one, because there’s only a finite amount of capital, a finite amount of interest. At some point some of these valuations have to start coming back down to Earth, and so they may both be scrambling to be first.
Kirsten: I mean, there’s very much a race between Anthropic and OpenAI. You’re even seeing OpenAI talk about slashing prices, and they’re certainly going to be competing on the IPO calendar. But that is very short-term thinking. If they’re smart, they should be much more concerned about the long-term play here.
To me, what’s really interesting is while Anthropic, OpenAI, and SpaceX all prepare for these moments, there are a host of other companies out there that are raising money on the backs of the success of companies like SpaceX, or going into SPACs. Just today, for instance, or as we’re recording this, a company called Quantum Space is doing a SPAC and absolutely trying to ride that SpaceX IPO wave.
We’ve got a host of other startups that our reporter Tim Ferholz has reported on that are clearly — they’re not going to go public, right? But if SpaceX is successful with space data centers, they’re raising money off of that potential and they’re building businesses on that potential. So there’s a ripple effect that’s happening throughout the market that I think is probably even more interesting than just the headline, “SpaceX makes Elon a trillionaire.”
Sean: The commonly accepted theory in Silicon Valley is that AI is remaking the economy, but because of its use. AI is actually already remaking the economy — just because of how people are trying to build it. We have everything that you just described, we have these other companies rushing to public markets. And I think that’s a really good point to think about: Will they ever regret rushing to public markets?
But we even have companies like Ford and General Motors who are pivoting their unused battery creation capacity to be energy providers for data centers. And Ford’s stock shot up when it announced what is honestly a pretty modest-looking energy storage business, in comparison to something like Tesla. And Tim De Chant had a really great series of stories this week about GM’s pivot, as well.
The economy’s already being remade. Whether that’s durable, again, that’s the question, but it’s happening right now.
Kirsten: That is actually a really good point, because to me, I want to say five, six, seven, eight years ago, there were all these headlines of “the next Tesla killer” and these automakers and other companies are still chasing trying to recreate all these various businesses, and specifically the strategies of Elon Musk-based businesses. They haven’t learned their lesson.
I wish I could communicate this to all the automaker CEOs out there: I get it that you have a lot of unused batteries and you want to pivot to something else, but trying to model your business after Tesla or SpaceX and others, it doesn’t always work. Perhaps look elsewhere.
Sean: So Ford shouldn’t get into space data centers. Is what you’re saying?
Kirsten: No, they shouldn’t. But just watch. This is going to happen.