Tom Lee Says SpaceX, OpenAI, and Anthropic IPOs May Boost Markets Despite Trillion-Dollar Supply

Tom Lee, chairman of Bitmine Immersion Technologies and co-founder of Fundstrat, believes the upcoming wave of mega IPOs led by SpaceX, OpenAI, and Anthropic is unlikely to negatively impact financial markets, even though the listings could inject trillions of dollars into public equities. Lee recently explained that these highly anticipated IPOs may rival or even surpass the scale of the dot-com boom when adjusted for inflation.

According to Lee, Elon Musk’s SpaceX could become the second-largest IPO in history, potentially targeting a valuation above $1.5 trillion, trailing only Saudi Aramco. Combined with potential public listings from AI giants OpenAI and Anthropic, the new equity supply could represent around 5% to 6% of the S&P 500’s total market capitalization.

While some investors worry about the massive liquidity entering markets, especially after the typical 90-day lock-up periods expire, Lee remains optimistic. He argues that institutional investors, pension funds, family offices, and wealthy individuals currently maintain historically low exposure to public equities after years of favoring private investments and alternative assets.

Lee believes there is ample capital available to absorb these IPOs as investors rotate back into U.S. stocks. He also noted that many early shareholders may avoid immediate selling by using hedging strategies or borrowing against their holdings instead of triggering significant tax liabilities.

Beyond equities, Lee discussed cryptocurrency and blockchain technology, highlighting how Wall Street is increasingly embracing tokenisation due to instant settlement and transaction verification benefits. Speaking on the growing convergence of crypto, artificial intelligence, and finance, Lee said blockchain technology could also provide a neutral system for identity verification in an AI-driven future.

He added that major banks are closely monitoring the crypto industry because of the substantial revenue opportunities emerging from digital assets, AI innovation, and modern financial infrastructure in 2026.