SpaceX Has Filed Confidentially For IPO, The AI Divide In Venture Capital | Bloomberg Deals 4/1/2026

Summary

• SpaceX has confidentially filed for an IPO, targeting a June listing with a valuation up to $1.75 trillion and aiming to raise $75 billion.
• McCormick acquires Unilever's food business in a $44.8 billion reverse Morris trust deal, refocusing Unilever on personal care and home products.
• Biogen buys Apellis for $5.6 billion to diversify its neurology franchise with drugs for geographic atrophy and rare diseases.
• Activist investor IRENIC takes a position in SNAP, advocating for spinning out the specs business and other changes amid significant share price decline.
• Bain Capital's David Gross views AI as transformative but daunting, with productivity gains leading to less hiring and labor dislocation, while creating new jobs over time.
• Gross emphasizes that AI implementation should start with business objectives, not technology, to drive enterprise-wide change and value.
• Gross highlights Bain's focus on "performance at scale" in private equity, avoiding public listing growth, and notes challenges in private credit liquidity and redemptions.
• Venture capital exhibits a K-shaped market: AI firms like OpenAI and Hippocratic AI see soaring valuations, while non-AI sectors like instant delivery face valuation resets.
• AI investing panelists see massive opportunities across all stages, with early-stage offering the highest potential for building generational companies.
• Cybersecurity is both a key risk and opportunity in AI, with companies like Anthropic focusing on responsible AI and tools like Wiz gaining traction.
• Valuations for top AI startups are frothy but justified by unprecedented customer demand and growth, though some caution is warranted for overextension.
• Morgan Stanley's Tom Miles notes that M&A activity remains strong despite global uncertainty, driven by long-term corporate strategies and AI-driven demand and disruption.