Wall Street veteran Anthony Scaramucci is sounding the alarm on a potential market top, warning that the highly anticipated public debuts of SpaceX, OpenAI, and Anthropic could signal the symbolic end of the current tech boom.
The ‘Holy Trinity’ Of Tech
Speaking on the All Things Markets podcast, Scaramucci and the Founder and CEO of Galaxy Digital Inc. (NASDAQ:GLXY), Michael Novogratz, discussed the frenzy surrounding the artificial intelligence (AI) and private space sectors.
Scaramucci specifically pointed to the impending public offerings of three private tech giants as a potential that could spell trouble for both retail and institutional investors.
“Do you think this holy trinity of incredible companies coming public, these colossal valuations, are a warning sign similar to what Paul Tudor Jones saw 40 years ago?” Scaramucci asked, referencing the famous hedge fund manager’s successful preparation for the historic 1987 stock market crash.
A Symbolic Market Peak
Novogratz agreed with the underlying premise, highlighting the unprecedented scale of capital required to absorb these specific public offerings. He estimated that bringing these three powerhouse companies to the public markets represents an aggregate “$4 trillion of market cap” that would require upwards of “$125 billion of new money” from investors to fund.
“Great markets, great bubbles end with something symbolic,” Novogratz explained, drawing direct historical parallels to the infamous AOL-Time Warner merger that marked the top of the dot-com era. “What could be symbolic is the IPO of SpaceX or the three of them together.”
Navigating The Liquidity Drain
The conversation underscored a macroeconomic threat: an influx of equity supply draining liquidity from the rest of the market. Novogratz noted that the pull of an Elon Musk-led SpaceX IPO could be the catalyst that finally exhausts buyer demand.
“If we look back and SpaceX was the high, it won’t surprise anybody with hindsight,” Novogratz warned. “That’s how markets end.”
When Will the “Holy Trinity” Hit the Market?
The timeline for this massive influx of equity is moving rapidly. SpaceX recently filed its official, highly anticipated IPO prospectus with the SEC. It is targeting a historic Nasdaq debut as early as June 12, 2026, under the ticker “SPCX.”
Meanwhile, the major AI players are right behind Musk. OpenAI reportedly filed its IPO paperwork confidentially in May 2026, aiming for a massive public listing in September or October.
Anthropic is operating on a similar timeline, with reports indicating they are eyeing an IPO by late October 2026. If all three proceed as planned, the back half of the year could see hundreds of billions of dollars absorbed by these mega-listings.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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