Why wouldn't it? There huge demand for these shares. It's not like $3+ trillion is dumped at once. It's a tiny percentage of it, and the high multiple does the rest of the work.

▲ asjgGa6 4 hours ago | parent [-]

There was a huge demand for the World Online IPO in The Netherlands in the late 2000 bubble. Retail investors bought it thinking they got a unicorn.

Turns out it was a scam and shares fell on the first day. Soon after the entire bubble burst.

That said, I don't even see "huge demand" for the AI triocorns right now. Unlike in 2000, most people are skeptical.

	▲	aurareturn 3 hours ago \| parent [-]
		`World Online IPO` €64 million revenue on €91 million losses. Meanwhile, Anthropic is adding ~$10-$15b ARR every month. `That said, I don't even see "huge demand" for the AI triocorns right now. Unlike in 2000, most people are skeptical.` I personally think there is massive demand. I think Anthropic will easily eclipse $2 trillion marketcap on first day of trading.