Wall Street Preps for the SpaceX IPO

Summary

Wall Street is preparing for the massive SpaceX IPO, which is expected to be the largest ever at $75 billion. The discussion covers demand exceeding supply, the challenge of distributing such a large offering, and the impact on other companies hoping to go public. Panelists note that AI-related IPOs like Anthropic and OpenAI may follow, but non-AI companies face a tough market.

• SpaceX IPO is expected to raise $75 billion at a $1.75 trillion valuation.
• Demand for SpaceX shares already exceeds supply, a common IPO phenomenon.
• Bankers are pulling orders from international banks and retail investors to manage distribution.
• The IPO could reopen the market for mega deals but may crowd out smaller issuers.
• Anthropic and OpenAI are expected to race to IPO after SpaceX, with first-mover advantage.
• Non-AI, private equity-backed companies are being advised to delay IPOs due to market conditions.
• Recent market pullbacks have not persisted, giving bankers confidence for the SpaceX deal.
• The current IPO wave is concentrated in a handful of huge AI-related companies, unlike the broad 2021 boom.