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Fortune

Technology

Amanda Gerut

SpaceX is about to make history—and 80% of VCs won't see a dime of it

SpaceX Anthropic OpenAI Term Sheet

A man in a suit jacket gestures with his hands. (Credit: Photograph by Stuart Isett/Fortune)

Hi, this is Amanda Gerut pinch writing for Allie Garfinkle from Aspen where we just wrapped the 25th annual Fortune Brainstorm Tech conference.

Lots of buzz about SpaceX’s IPO slated for Friday. Given the $1.5 trillion to $2 trillion valuation range that has been thrown around—and the prospect of a total $5 trillion in value coming online after adding in Anthropic and OpenAI—you would be forgiven for thinking this summer means salvation for venture capital.

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