The AI IPO wave is about to test Wall Street’s appetite

The AI IPO rush is here. With OpenAI’s announcement late Monday that it had confidentially filed for an IPO, the three biggest AI companies are all in line to go public. (And a fourth, Perplexity, will likely bring up the rear in 2028.) It’s something that has been looming for a long while on Wall Street. Now, though, investors will have to decide if the era of the Mega-IPOs is too much of a good thing. SpaceX is asking Wall Street for about $75 billion. Anthropic and OpenAI...