The former JPMorgan trader says the much-hyped IPO is really a cash-out for early investors who got in a decade ago, warning regular people could end up holding the bag.
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Americans are starting to realize that "passive" investment funds aren't actually that passive — and they have Elon Musk to thank for the lesson.
SpaceX is pricing its IPO at 95 times its 2025 sales, but that doesn't tell the full story.

<body><p>STORY: From the astronaut wears Prada to recreating the World Cup's humid conditions, this is Tech Weekly.</p><p>:: Tech Weekly</p><p>Spacewear got a high-fashion upgrade.</p><p>Italian luxury brand Prada unveiled a new inner garment NASA astronauts will wear on upcoming missions to the Moon.</p><p>The body-hugging suit was made in collaboration with Houston-based Axiom Space, and features ventilation tubes knitted into the garment.</p><p>The move is part of Prada's push to become the first major high-end fashion house in space.</p><p>///</p><p>SpaceX underwriters blocked investors in China and Hong Kong from taking part in the company's planned initial public offering.</p><p>That was the word from a report by Bloomberg.</p><p>It said lead banks managing the offering cited regulatory and compliance concerns.</p><p>Reuters had also found SpaceX's website and IPO marketing documents weren't accessible in mainland China or Hong Kong.</p><p>///</p><p>Taiwan's military revealed robot patrol dogs that may soon keep watch on disputed islands in the South China Sea.</p><p>The military-owned National Chung-Shan Institute of Science and Technology, showed off three versions of the dogs in Taipei.</p><p>The institute said it had made versions for reconnaissance, surveillance and a firepower dog with a gun on its back.</p><p>Taiwan has modernized its armed forces as Beijing ramps up pressure on the self-governed island, which China claims as its own territory. </p><p>///</p><p>Researchers at England's University of Portsmouth recreated the hot, humid conditions fans could face at the 2026 World Cup.</p><p>Matches are being held across the U.S., Canada and Mexico - with temperatures at some venues expected to be high.</p><p>Lecturer Tom Williams walked on a treadmill in temperatures of around 35-36 degrees Celsius or 95-97 degrees Fahrenheit - with humidity levels designed to mimic conditions expected in venues.</p><p>"The fortunate thing for lots of the players is they get out there nice and early, they spend a few weeks allowing their body to sort of adjust to the heat, whereas a lot of the fans, people like you and I who might travel to go and watch the games, we sort of get off a plane without any sort of preparation..."</p><p>Soccer's governing body FIFA says it's carried out heat-risk planning, including mandatory hydration breaks, cooling infrastructure and enhanced medical readiness.</p></body>
Investors hope every stock they pick will go “to the moon”, but some companies take that more literally than others.
Bitcoin has been selling off since privately held SpaceX filed to go public on May 20.
Global airlines' push to attract premium customers is making fast in-flight Wi-Fi an increasingly important perk, turning a once-patchy paid service into an emerging battleground between Elon Musk's Starlink and Jeff Bezos' Amazon Leo satellite network. Starlink, which operates around two-thirds of all satellites in space and is the major driver of revenue for SpaceX, has signed up 11 new airline customers globally so far in 2026, after 22 in 2025 and eight in 2024, compared with three in 2022, according to Valour Consultancy, an aviation intelligence firm. Amazon, which is still building out its Leo satellite constellation, faces a potential setback after a Blue Origin rocket failure last month.
Wall Street is moving to stuff SpaceX shares into small investors' portfolios, exposing them to a potentially overpriced stock.
Perplexity's CEO is watching SpaceX price its IPO this week as a test for AI markets. But the 2028 listing is happening either way.
SpaceX is about to make history with a potential $75 billion IPO -- but before you rush to buy shares, you need to understand what's really driving this $1.8 trillion valuation.
Global macro investor Raoul Pal sees crypto hitting $100 trillion in a decade, as Galaxy CEO Novogratz admits nobody cares about crypto right now due to AI shift.
SpaceX is expected to make its stock market debut on Friday in what could become the largest IPO in history. Here's how retail investors in Europe can participate and the risks they should consider.View on euronews
10% That's roughly how much of the endowment of the University of North Carolina system is tied up in SpaceX, according to people familiar with the endowment. It's one of many schools with sizable holdings in Elon Musk's rocket company.
There's a much larger lesson to be learned from this IPO and similar ones expected to happen.
Investors are being offered a new AI investment opportunity.
MANGOS typically refers to artificial intelligence leaders such as Meta, Anthropic, Nvidia, Google, OpenAI, and SpaceX.
An already interesting IPO story just became even more intriguing.
Morningstar said SpaceX's bull-case "Moonshot" scenario, involving successful orbital data centers and AI satellites, has only a 7% chance of materializing.
A single business segment accounts for most of SpaceX's growth potential.
It's not optional, but the impact could be smaller than it seems.
SINGAPORE, June 9 (Reuters) - SpaceX's $75 billion IPO is fuelling a frenzy among investors in Asia for ETFs and supply chain partners linked to Elon Musk's rocket company that are likely to benefit from the blockbuster deal. Shares of satellite and rocketry-related companies worldwide have surged as everything from Starlink component manufacturers to ETFs that own private shares in SpaceX draw strong demand.
Barclays cut its ASTS price target to $60 from $65, citing launch delays and an unattractive risk-reward profile.
OpenAI filed preliminary paperwork that would open the door to it becoming a publicly traded company, the third in a powerhouse trio of artificial intelligence companies racing to Wall Street debuts.View on euronews
AI coding startup Cursor, which SpaceX has an option to buy for $60 billion, will open its European headquarters in London and hire some 200 staff, an executive told Reuters, as demand in the region grows for tools that automate software development. Elon Musk's SpaceX, which is readying for a closely watched IPO this week, said in April it had secured an option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for their new partnership, as it pushes deeper into the lucrative market for AI developer tools. San Francisco-based Cursor chose London for its deep talent pool and access to multilingual workers, allowing the company to support multiple European markets from a single base, said Ismail Elmas, Cursor's senior vice president for EMEA.
SpaceX expects to go public this month at a $1.77 trillion valuation.
With the company set to IPO at a $1.77 trillion valuation, expectations surrounding SpaceX are massive.

<body><p>STORY: OpenAI has filed for a U.S. share listing.</p><p>That was according to a statement from the company on Monday.</p><p>The ChatGPT-maker did not disclose the size or terms of the offering, and said no timeline had yet been set.</p><p>Reuters has previously reported that the firm is targeting a valuation of $1 trillion, with a market debut as early as September.</p><p>At that valuation, OpenAI would set the stage for three trillion-dollar IPOs in quick succession - posing a massive test of investor appetite for high-growth tech stocks.</p><p>Elon Musk’s SpaceX will be first out of the gate this week.</p><p>It’s set for a potentially record breaking listing that could see it raise $75 billion at a valuation of $1.75 trillion.</p><p>Then there is OpenAI rival Anthropic, the outfit behind Claude Code.</p><p>It said earlier in June that it too had filed for a listing, and has only recently done a funding round that valued it very close to the trillion mark.</p><p>If that leaves OpenAI to go last, one analyst said there could be concern over whether investors have the appetite for three such enormous IPOs in quick succession.</p><p>Others have expressed concern there could be little money left over for smaller deals.</p><p>Critics also ask if the ChatGPT firm can sustain its meteoric growth.</p><p>While OpenAI has said its revenue is growing fast, it has also told investors it doesn’t expect to be profitable before 2030. </p><p>It also faces a growing host of competitors, not least IPO rival Anthropic.</p></body>
As Anthropic races toward what could become one of the most closely watched IPOs this year after SpaceX, co-founder Jack Clark is warning that the artificial intelligence industry may need something it currently lacks: a brake pedal. Speaking to BBC...
This is important information if you plan to buy at the IPO.