“The Summer Of IPOs” - SpaceX & Anthropic Could 10X Into TRILLION‑DOLLAR BEASTS

**SPEAKER_1** (0:00)
So, you're saying with Hilton Honors, I can use points for a free night stay anywhere?

**Tom** (0:04)
Anywhere.

**SPEAKER_1** (0:06)
What about fancy places like the Canopy in Paris? Yeah, Hilton Honors, baby. Or relaxing sanctuaries like the Conrad in Tulum?

**SPEAKER_3** (0:13)
Hilton Honors, baby.

**SPEAKER_1** (0:15)
What about the five-star Waldorf Astoria in the Maldives? Are you gonna do this for all 9,000 properties?

**SPEAKER_4** (0:22)
When you want points that can take you anywhere, anytime, it matters where you stay. Hilton for the stay.

**SPEAKER_3** (0:28)
Cerebro stock jumps 18% as rollercoaster, first month of trading continues. Tom, we were talking about this earlier that you said they are oversubscribed by 20x, 20x oversubscribed. There's so much interest in this that even after day one, 68%, I think the stock is up.
And then we have OpenAI, we have Anthropic, we have SpaceX to go to. So one question for you, Tom, before we get into these stories individually and, Pomp, you as well, why is the IPO market happening now? Why didn't it happen last year? Why wasn't it the year before? Why is it in 2026?

**Tom** (1:02)
Well, I think there's two things happening.
The counterintuitive data point is go look at the number of IPOs. And I believe that the IPO total in 2021 was 121 of them. And it's dropped down 30, 40 And I think last year was, I'm going to find the chart that I have on here.
And so right now, we're talking about that the IPO market has broken back open with, I believe the number is we've already had 28 IPOs this year, which is almost more than we had last year. And when we just look at the number of IPOs, and we're about to have what's called the summer of IPOs, which in the middle of May was kicked off by Serra Brass coming out, and their IPO price, the price that all the insiders and the big institutions got was 185 bucks, 185
On at nine, at the first minute of trading, it jumped out, I think it was 350, almost double, 370 would have been double. And then the inner day high was actually to x the price. So why did that happen? Because it was 20x so surprised. They had 20 times the interest in the IPO than they actually could serve. And so all of those folks, a big chunk of them, some of the institutions step back because they don't want to be part of the pop and drop on day one. However, a lot of the retail people that wanted to get in, even high end retail, they jumped right in and that's what helps drives the price on day one. So that kicked it off. And we can see, just yesterday, they were up 18 percent. And so they've settled, I think, in the 250, 260 rage, as were 225 today. And just two days ago, they were up at 250 And so which is up above that 185 IPO price. So so far, this is a success. And now we've got the big three SpaceX, Anthropic, and OpenAI are coming out later in the fall, because everybody wants to give SpaceX about 90 days to suck the oxygen out of the room.

**SPEAKER_3** (3:13)
By the way, just out of curiosity, and I'll come to you with the same question as well. If you were looking at these individual stocks, and you're going to put a million dollars into it, okay?
And you have access to it. Say you're on the inside, you have a million bucks. How do you deploy the million dollars between these four companies? SpaceX, Serrabras, Anthropic, and OpenAI?

**Tom** (3:35)
So since Serrabras is out, I'll give you the three that are coming. The three that are coming, I'd put 50% of the dollars on Anthropic, and I'd put 25% each on SpaceX and OpenAI.

**SPEAKER_3** (3:50)
You would do 50% on Anthropic. You wouldn't even touch Serrabras anymore right now.

**Tom** (3:53)
Well, Serrabras is hard to get in now, and it's out trading. And so, I still like Serrabras around 220 It's, I'll tell you straight up, I might be, I'm not giving anybody investment advice, but I like this in the 220 range.

**SPEAKER_3** (4:08)
Okay, so here's the other question to follow up on, to the average person that's not on the inside. You have a million dollars, you're not pre, so you're not getting that call from Goldman Morgan. You're just a regular guy, and you're trying to set aside some money, long term, five, 10 years, between the four, how do you deploy it?

**Tom** (4:23)
I wait, there's a classical argument that says, I wait 10 trading days for all of the pop and drop to settle, but then be a buy and hold player if you believe in that company, you look at the early analyst reports, and you believe that's going to be...