North Carolina treasurer passes on SpaceX citing valuation concerns; favors OpenAI, Anthropic

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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