North Carolina Treasurer Avoids SpaceX IPO Valued at $1.77 Trillion

AI Summary

North Carolina Treasurer Brad Briner stated that the state's pension fund, managing about $200 billion, will not invest in SpaceX (SPACEX) due to valuation concerns, noting its $1.77 trillion valuation. Instead, the fund has invested approximately $40 million in OpenAI and $250 million in Anthropic, now valued at over $600 million. Briner emphasized the need for a predictable high-single-digit return for retirees, suggesting that many institutional investors are reconsidering the potential of SpaceX's valuation before going public. SpaceX is set to sell 555.6 million shares at $135 each, raising around $75 billion with an estimated valuation of $1.8 trillion.