India, June 18 -- California stands to gain a significant increase in tax revenue from the recent SpaceX initial public offering, along with the upcoming public listings of AI companies OpenAI and Anthropic.
Still, experts caution that these gains might not be on par with those from previous tech IPOs when you consider the valuations.
SpaceX just made its debut on the Nasdaq last week with a valuation around $2.5 trillion, creating a lot of paper wealth for its employees in California.
OpenAI and Anthropic are also gearing up for their public offerings later this year, and their valuations could get close to $1 trillion. This wealth surge has drawn comparisons to Meta Platforms' IPO in 2012, which brought in about $1.3 billion in tax rev...