The biggest IPO ever: SpaceX

CNBC's Halftime Report covers the historic SpaceX IPO with investor Brad Gerstner, Stephanie Link, and Malcolm Etheridge. Gerstner argues SpaceX will dominate AI hyperscaling and generate strong returns. Link adds a founder-led premium and massive TAM support further upside. Etheridge counters that the stock is too expensive and points to Alphabet and Amazon as cheaper AI hyperscaler plays. - SpaceX IPO opens at the NYSE, shares trading up ~16-20%. - Brad Gerstner says SpaceX will become the largest AI hyperscaler in the US, with revenue set to surge to $160B by 2028. - Stephanie Link emphasizes Elon Musk's Tesla track record and founder-led outperformance as reasons to buy and hold SpaceX. - Malcolm Etheridge notes the S-1 TAM is overwhelmingly AI, not space, and questions paying 100x sales. - Etheridge suggests Alphabet and Amazon as much cheaper alternatives for AI hyperscaler exposure. - The panel also briefly mentions AST SpaceMobile and Rocket Lab as potential pure-play space beneficiaries from the IPO's second-order effects.