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First-time exits of tech companies

dealroom.co

Total IPO/SPAC market cap and first-time M&A exit value by year, 2015–2025, then a proforma 2026: OpenAI (~$2T), Anthropic (~$2T), SpaceX ($1.75T target), ByteDance ($550B) and Databricks ($134B). If they all list, 2026 alone is worth about 2.7× every prior year combined. (Stripe

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