Now Dow Jones, Nasdaq Composite and S&, all are in record territories. SpaceX is already listed with a market cap of about $2 trillion and OpenAI and Anthropic are looking for valuations in the range of $1 trillion to $2 trillion each. “My best guess is that when (all) these companies successfully complete their IPOs, we will be in the vicinity of a major market top. There is simply too much money at stake now,” Bonzon said.