It normally takes a lot more than three companies to create an initial public offering boom. But if those three companies are SpaceX, OpenAI and Anthropic, Wall Street may soon find itself in the middle of an IPO boom for the ages.

In one of the first clear signs that some of the most valuable private tech companies have set the wheels in motion to go public, the Financial Times last week reported Anthropic had appointed lawyers to lay the groundwork. That puts it a step ahead of OpenAI, which is also considering an IPO. Reports in recent days, first by Bloomberg, suggest Elon Musk’s rocket company SpaceX is also gearing up to go public.

It’s not hard to see why. Private equity investors have provided huge amounts of capital for these companies, but they have their limits. OpenAI has raised $41bn of equity this year and will need much more before turning a profit. SpaceX is reported to be planning to raise more than $30bn in an IPO.