North Carolina treasurer passes on SpaceX citing valuation concerns; favors OpenAI, Anthropic
"Elon Musk, an amazing entrepreneur, incredible technology to launch business, startling, etc. We're trying to make a high-single-digit, predictable rate of return for our retirees. And we've got to consider valuation when we do that.
- ▪"Elon Musk, an amazing entrepreneur, incredible technology to launch business, startling, etc.
- ▪We're trying to make a high-single-digit, predictable rate of return for our retirees.
- ▪And we've got to consider valuation when we do that.
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| Original publisher | CNBC — Top |
| Canonical URL | https://www.cnbc.com/2026/06/10/north-carolina-treasurer-passes-on-spacex-citing-valuation-concerns-favors-openai-anthropic.html |
| Publication time | Wed, 10 Jun 2026 17:46:32 GMT |
| Retrieval time | 2026-06-10T17:53:35.700Z |
| Last seen | 2026-06-10T17:53:35.700Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | 0qz_TnJ5IuOT |
| Cluster logic | Grouped by semantic title/content similarity across sources within a rolling window. Same-publisher template collisions are excluded from coverage comparison. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
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| Indexing | May the item be indexed (stored, ranked, made findable)? | Allowed |
| Snippet | May a short excerpt of the publisher's text be shown? | Allowed |
| AI summary | May WeSearch generate its own short summary of the article? | Limited |
| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
Basis: Derived from the published RSS/Atom feed. Contact: [email protected]. Reviewed: 2026-07-24.
Opening excerpt (first ~120 words) tap to expand
North Carolina state Treasurer Brad Briner said the year's hottest IPO is too expensive for his pension fund to own.Briner, who oversees roughly $200 billion for North Carolina's teachers, firefighters and police officers, said the state has invested heavily in artificial intelligence startups OpenAI and Anthropic while avoiding a direct stake in SpaceX — expected to go public Friday — because of concerns that the Elon Musk-led company's $1.77 trillion valuation leaves little room for future gains."There's been a pricing issue that we've been concerned about for the last year or so with SpaceX," Briner said on CNBC's "Squawk Box" on Wednesday. "Elon Musk, an amazing entrepreneur, incredible technology to launch business, startling, etc. But at some point, things are fully priced.
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