By Daragh Thomas
Publication Date: 2026-06-09 14:08:00
The Prof G Markets co-host issued the call on his podcast this week. SpaceX is set to list Friday at a fixed $135 per share, while Anthropic and OpenAI both disclosed confidential IPO filings within the past week.
“I got to think that in the next 12 to 24 months, one or two of these three companies is off 60 or 80%,” Galloway said. “I just don’t see how they maintain this momentum.”
Galloway compared the AI buildout to the railroad and dot-com booms, eras where transformative technology still produced crashes for the companies laying the infrastructure.
Cisco Systems Inc (NASDAQ:CSCO) lost more than 90% of its value between 1999 and 2001 and never recovered.
The $400 Billion Supply Flood
Co-host Ed Elson estimated the upcoming raises may collectively demand around $400 billion in fresh equity, including SpaceX’s $75 billion listing at a reported $1.77 trillion valuation and anticipated $100 billion debuts from Anthropic and OpenAI.