Altman Warns Valuations Defy Easy Math<\/p>\n
“I don\u2019t think anybody understands, at least I don\u2019t, how to value companies like SpaceX or Anthropic. And they\u2019re probably going to be some pretty, they\u2019re very, probably very volatile prices like we\u2019re seeing on SpaceX right now, on that side of it,” Altman said<\/a> on CNBC\u2019s “Squawk Box.”<\/p>\n “But the companies are fundamentally good, impressive companies. And that is the right\u2026 the important thing for the long term. But people who own them have to be ready for a lot of volatility,” he added.<\/p>\n Altman pointed to last week\u2019s 8% to 9% drop in chip stocks as a normal and healthy correction after the index had doubled earlier in the year. Still, he said valuations across much of big tech remain exceptionally high by historical standards.<\/p>\n SpaceX Swings After Nasdaq Inclusion News<\/p>\n Altman\u2019s warning comes as retail demand for SpaceX has surged. The company allocated about 20% of its massive IPO<\/a> to retail investors globally, after earlier discussions of setting aside as much as 30% through platforms including Fidelity and Charles Schwab.<\/p>\n Anthropic Adds To Valuation Puzzle<\/p>\n Traditional valuation models are also clouded by business ties among these companies. Anthropic has signed a compute agreement<\/a> with SpaceX for access to its Colossus data center capacity, tying the AI company\u2019s growth directly to SpaceX\u2019s infrastructure ambitions.<\/p>\n