SpaceX, OpenAI and Anthropic are preparing to deliver largest wave of IPOs in history, potentially adding $3 trillion to US equity market. However, these companies have a stark gap between valuation and fundamentals. SpaceX, debuting at $1.75 trillion valuation, faces pressure from a $5 billion loss on $18.5 billion in revenue. OpenAI and Anthropic also remain unprofitable, Reuters reported.