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Exactly. Google has SpaceX stock.

To make matters worse all the banks, insurers and investment firms in that S&P list are likely in there somewhere too.

I'm sure I'm missing a whole lot more.

Indirect exposure is just a completely different beast than direct exposure. It’s a different level of risk altogether

> It’s a different level of risk altogether

In this case, really? Between Nvidia, Microsoft, AMD, Amazon and everyone else in that S&P 500 there's not >50% of OpenAI already? It's not that indirect.

Microsoft alone is 27%.

Hmm, actually I would be interested to get actual number regarding the exposure to OpenAI and Anthropic in S&Py you might be right, completely possible that I underestimated

True, but that’s tiny relative to these companies going public themselves. Totally different ballgames

lol don’t compare private market pricing where the line only goes up and to the right.