Glen Anderson, president of Rainmaker Securities, has witnessed an unprecedented surge in demand for shares of Anthropic, even as OpenAI languishes. The difference, he argues, lies in how Anthropic's public stance against the Department of Defense amplified its appeal.

The market narrative is complex; many still see value in both companies. However, secondary trading dynamics favour Anthropic, with institutional investors seeking exposure to both but finding the former more attractive.

OpenAI shares, meanwhile, trade at a significant discount despite the company’s hefty primary valuation. OpenAI has attempted to limit secondary trading access through banks, but high fees and carry charges indicate ongoing challenges for investors.

Spectacularly, SpaceX remains resilient amid market corrections, thanks to conservative pricing strategies that have rewarded early backers handsomely. An IPO is imminent, potentially making this the biggest tech debut in history.