Razer CEO Min-Liang Tan said on June 11 at Singapore's SuperAI convention that blockbuster AI company IPOs represent just the beginning of successive waves of public offerings in the sector. Tan's remarks came ahead of SpaceX's public debut targeting a $1.77 trillion valuation, with OpenAI and Anthropic also filing for IPOs. The comments reflect confidence in sustained public market activity as major AI companies transition from private to public capital markets.
SpaceX Targets $1.77 Trillion Valuation in Historic IPO
Elon Musk's SpaceX makes its public debut the day after Tan's remarks, targeting a $1.77 trillion valuation in its IPO. The company includes xAI, the business unit overseeing X and Musk's Grok model, according to SEC filings.
Anthropic and OpenAI File Public Offering Documents
OpenAI filed to go public Monday afternoon, following rival Anthropic which submitted an IPO filing with the U.S. Securities and Exchange Commission a week earlier. Anthropic closed its Series H funding round on May 28 at a $965 billion valuation, while OpenAI was valued at $852 billion in March.
Razer Delisted from Hong Kong Exchange in April 2022
Tan's Razer delisted from the Hong Kong Stock Exchange in April 2022 after five years on the exchange to focus on AI development. The privatization deal saw a consortium led by co-founder Tan and CVC Capital Partners offer up to 10.79 billion Hong Kong dollars ($1.38 billion) to buy out shares at HK$2.82 apiece. The company debuted in 2017 with its IPO priced at HK$3.88 per share.
Razer Invested Over $600 Million in AI Development
Razer said in February it had invested over $600 million in AI development and launched a suite of wearable AI products for its gaming-focused audience. Tan presented Project Motoko onstage at SuperAI, the company's AI headset launched in January at CES that provides real-time translation services, cooking guidance, and repair instructions. Razer's other AI hardware offerings include a workstation designed for heavy AI workloads and Ava, an AI desktop companion.
"We are all-in on AI," Tan told CNBC's Joanna Ossinger, adding that the company was exploring how AI could exhibit human-like personalities and emotions.
FAQ
What did Razer's CEO say about AI company IPOs on June 11?
Min-Liang Tan said at Singapore's SuperAI convention that blockbuster AI company IPOs would be "just the beginning" and predicted a second generation and third generation of different waves coming through public capital markets.
When did Anthropic close its Series H funding round?
Anthropic closed its Series H funding round on May 28 at a $965 billion valuation, according to the company's announcement.
