Razer CEO claims AI mega-listings are merely the beginning, as historic SpaceX IPO approaches.

Razer CEO claims AI mega-listings are merely the beginning, as historic SpaceX IPO approaches.
Summary
Razer CEO Min-Liang Tan predicts a wave of AI company IPOs in the future.
Companies like SpaceX, Anthropic, and OpenAI are filing for public offerings soon.
Razer has invested over $600 million in AI and launched various AI-focused products.

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Min-Liang Tan, CEO of Singapore-based gaming company Razer, expressed his enthusiasm for the forthcoming wave of public offerings from companies in the global artificial intelligence sector during a discussion on Thursday. This conversation took place ahead of a series of highly anticipated IPOs from significant AI firms.

Speaking with CNBC’s Joanna Ossinger at the SuperAI convention in Singapore, Tan conveyed his belief that the introduction of numerous companies into the public capital markets is merely the start of an exciting trend. He referred specifically to impending IPOs from industry giants such as SpaceX, Anthropic, and OpenAI. "I think we are witnessing just the beginning," Tan noted, adding that various iterations and generations of AI businesses will emerge in waves over the coming years.

Tan’s comments precede the public launch of Elon Musk's SpaceX, which includes xAI—responsible for overseeing Musk's Grok model—aiming for an impressive valuation of $1.77 trillion during its IPO.

On the regulatory front, OpenAI submitted its public offering paperwork on Monday, shortly after Anthropic, which filed with the U.S. Securities and Exchange Commission just a week earlier. Anthropic completed its Series H funding round on May 28, securing a valuation of $965 billion, surpassing OpenAI’s valuation of $852 billion as of March.

While the market is buzzing with AI companies preparing for their Wall Street entrances, Razer is taking a different approach. The company delisted from the Hong Kong Stock Exchange in April 2022 after five years, a strategic move that Tan said would enable Razer to concentrate on AI advancements.

The privatization deal involved a group of investors, including co-founder Tan and the private equity firm CVC Capital Partners, who collectively put forth approximately 10.79 billion Hong Kong dollars ($1.38 billion) to acquire shares at HK$2.82, compared to Razer’s IPO price of HK$3.88 in 2017.

In recent developments, Razer announced in February that it has dedicated over $600 million to AI research and has introduced several wearable AI products aimed at its gaming audience. One highlight is Project Motoko, an AI headset launched at CES in January that offers features such as real-time translation, cooking assistance, and repair guidance.

Additionally, Razer’s range of AI products includes a workstation tailored for intensive AI tasks and Ava, an AI desktop companion. "We are fully committed to AI," Tan asserted, emphasizing the company’s exploration into how AI can mimic human-like personalities and emotional responses.

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