Shitpost question: Are the upcoming IPO’s for AI ‘frontier’ companies a rug pull?

Specifically talking about OpenAI, Anthropic and SpaceX.

I think early backers and VCs want their money back now before a potential AI bubble burst. SpaceX has a ridiculous valuation, OpenAI wants to churn through 600 billion before it’s profitable and recent reports are coming out that the cost of using Claude vastly exceeds that of human capital with the token churn rate being what it is.

I think there is a bubble, and the maths doesn’t add up, whilst AI compute costs will eventually fall, the obscene financial projections that these companies are making still paint a picture of slimmer profits than the market is pricing in.

I wouldn’t touch these equities with a barge pole when IPO. Maybe it’s crude to call it a rug pull but I doubt large investors and smart retail investors want to expose themselves to the risk of equities that will burn 600 billion before turning a profit, I think OpenAI will either plummet on IPO or it will have a drastic reduction in valuation in the private market pre IPO.

I think we’re a little while away from the top at the moment as the mag 7 continue pouring billions into AI infrastructure and posting profits with demand increasing. But soon there’ll be a correction and I reckon it will start with something like Oracle defaulting on a loan