Overview
- SpaceX, which filed confidentially with the SEC on April 1, is preparing a late May prospectus and an early June roadshow at a reported valuation near $1.75 trillion.
- Reports say the company could raise up to $75 billion, with some coverage citing a target above $2 trillion and prediction markets putting June listing odds near two thirds.
- February’s merger folded Elon Musk’s AI firm xAI into SpaceX to pitch orbital AI data centers, though public details on how the service would work remain sparse.
- Nasdaq approved a Fast Entry rule on March 30 that allows new mega-cap listings into the Nasdaq-100 in about 15 trading days, which would trigger rapid buying by funds that track the index such as QQQ.
- Skeptics including Michael Burry warn that a small public float possibly near 5% could create sharp swings and pull the stock into many 401(k) plans quickly, while backers like Anthony Scaramucci say they plan to buy and point to Starlink’s roughly 10 million users as a key anchor.