AI mega-listings are 'just the start,' Razer CEO says, ahead of historic SpaceX IPO

The landscape of public offerings in the artificial intelligence sector is poised for significant growth, according to Min-Liang Tan, CEO of Razer, a prominent gaming company based in Singapore. Speaking at the SuperAI convention, Tan expressed his enthusiasm about the upcoming IPOs from major AI players, suggesting this wave is merely the start of a broader trend. He highlighted the imminent public launches of tech giants such as SpaceX, Anthropic, and OpenAI, stating, "With this host of new companies entering the public capital markets, it's incredibly exciting. But I believe this is just the beginning." Tan anticipates that we will witness successive generations of AI companies making their mark on the market. Tan's comments come just before SpaceX, which also oversees xAI and Musk's Grok model, is set to make its historic public debut with a valuation target of $1.77 trillion. Recently, OpenAI filed for an IPO, following Anthropic's earlier submission to the U.S. Securities and Exchange Commission. Anthropic recently completed its Series H funding round, securing a valuation of $965 billion, surpassing OpenAI’s valuation of $852 billion from earlier this year. In contrast to the IPO frenzy among AI firms, Razer took a different path by delisting from the Hong Kong Stock Exchange in April 2022. This decision, according to Tan, was intended to enable the company to concentrate on AI development. The privatization deal involved a consortium led by Tan and CVC Capital Partners, which paid up to 10.79 billion Hong Kong dollars (approximately $1.38 billion) to acquire outstanding shares at HK$2.82 each. Razer first entered the public market in 2017, pricing its IPO at HK$3.88 per share. This February, Razer announced it had invested over $600 million in AI development, launching several wearable AI products aimed at gamers. At the SuperAI event, Tan showcased Project Motoko, an AI headset introduced at CES, which offers real-time translation, cooking assistance, and repair guidance. Additionally, Razer has developed other AI hardware, including a workstation for demanding AI tasks and Ava, an AI desktop companion. "We are fully committed to AI," Tan declared, noting that Razer is exploring ways for AI to demonstrate human-like personalities and emotions.