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Every investor who bought after the first day of trading is now underwater. The question is whether the slide reflects a reset in sentiment or something more structural.
Reporting from Ed Zitron and the Financial Times suggests OpenAI's balance sheet is under strain. For a company raising capital at a valuation that rivals sovereign wealth funds, the gap between revenue ambition and financial reality deserves a close read.
The investor who called the housing crisis sees something worth watching in Musk's rocket company. He just doesn't think it's worth the trade.
Techcombank CEO Jens Lottner says Vietnam's domestic deposit base is structurally too small to finance the country's infrastructure ambitions — and that foreign capital will have to fill the gap.
The platform says it has produced more than 650 millionaires by letting creators sell digital products and communities. The valuation is real. The philosophy deserves scrutiny.
Underwriting commissions on a landmark IPO are only the opening act. The secondary market, lending, and wealth management business that follows can dwarf the initial fee.
The venture industry helped build the era of mega-private companies. When the biggest of them finally exit, most of the industry will be watching from the lobby.
The AI coding assistant was written off when Anthropic's Claude Code arrived. A high-profile enterprise contract with SpaceX has reframed the competitive picture — and the capital markets are paying attention.
OpenAI, Anthropic, and SpaceX are pricing in a global AI economy that doesn't exist yet. The durable revenue opportunity may be in markets their current valuations barely acknowledge.
The Amazon founder's $41 billion startup Prometheus frames artificial intelligence as a demand accelerant for human workers — a contrarian read with real capital behind it.
A JPMorgan research note argues that Goldman Sachs and Morgan Stanley stand to collect outsized trading and underwriting revenue in Q2 — and that the market is underestimating how much a SpaceX-scale listing would move the needle.
Two prominent tech investors see Starlink's trajectory as the variable that could make or break how public markets eventually price the launch company — if it ever gets there.
A public endorsement from Nvidia's CEO sent Marvell Technology shares surging, raising questions about valuation, AI infrastructure dependency, and what it takes to reach a ten-figure market capitalisation.
A public offering from Elon Musk's rocket company would be a landmark event. The fine print deserves the same attention as the spectacle.
Investors are reassessing the low-earth-orbit broadband race as SpaceX's planned satellite deployment puts fresh pressure on AST SpaceMobile's timeline and valuation.
MSCI's early-inclusion rules for large-cap listings would fast-track SpaceX into major indexes from day one — a structural detail that matters more than the valuation headline.
A thin free float, retail momentum, and forced passive buying have combined to push SpaceX's market capitalisation past Amazon's. Whether the valuation reflects fundamentals is a separate question.
As Anthropic moves toward a public offering, analysts and investors are grappling with a risk that doesn't fit neatly into a standard S-1 filing: the federal government's growing appetite to regulate — or restrict — frontier AI development.
Tokenized SpaceX shares underperformed at launch, but the data points to a supply-demand mismatch rather than a structural failure of tokenized equities.
A loss-to-revenue ratio of 1.6x at scale is the number that matters. The leaked figures put OpenAI's path to profitability under serious scrutiny.
SpaceX's record IPO has left Elon Musk with a wealth-management problem that no advisor, model, or precedent was built to solve.
Strong early demand signals investor appetite, but oversubscription figures at this stage say more about allocation strategy than they do about price discovery.
The company has taken the first formal step toward going public, but its own language suggests the listing is more placeholder than imminent event.
New Constructs CEO David Trainer says the math behind SpaceX's IPO price doesn't work. Here's what would have to be true for it to.
Bond investors have been the quiet backers of AI infrastructure spending. Now equity issuance is entering the picture — and shareholders are watching their dilution risk.
At 555.6 million shares priced at $135, SpaceX is asking public markets to believe a story that private markets have been telling for years. Now comes the hard part.
The numbers are historic. So is the governance structure that comes with them.
The company's preemptive disclosure is a PR move, but the confidential filing itself is a meaningful structural step toward a public offering.
Cathie Wood's fund is buying into SpaceX post-IPO. The question isn't whether she believes in the company. It's what price she's paying to believe in it.
Attorneys general from multiple states are investigating potential user harm at OpenAI — a complication that arrives at the worst possible moment for a company trying to price a public offering.
The largest IPO in history closed at $135 a share. The math that gets you to a $1.7 trillion valuation is worth examining closely.
Regulators or underwriters appear to have flagged the products as a potential complication for SpaceX's public debut — a telling footnote about how derivative exposure can crowd the IPO process.
A broad retail allocation sounds democratic. The fine print is less so.
With SpaceX set to price its IPO within 24 hours, a meaningful cohort of analysts has put fair-value estimates at roughly half the figure Elon Musk's team is marketing. That gap is not a rounding error — it is a thesis.
Anticipation around a potential SpaceX public offering is lifting interest in thematic funds that hold adjacent space-economy stocks — but the underlying holdings and liquidity vary widely.
The company's pre-leak posture on its $1 trillion listing tells you something about how it wants the market to read the round — and what it would rather you not ask.
The effusive praise from Wall Street's most powerful banker underscores how much is at stake for JPMorgan in what would be one of the largest public listings in U.S. history.
Demand for the anticipated SpaceX IPO is reportedly historic among overseas allocators — but FX analysts say that appetite stops at the equity ticket. The dollar itself is a different trade.
The venture secondaries market built itself around the assumption that companies like SpaceX would stay private forever. They won't.
If the numbers hold, SpaceX's public offering would dwarf Alibaba's 2014 record by more than 7.5 times. That gap tells you something about both the ambition of the deal and the assumptions baked into it.
Elon Musk has pulled off one of the most consequential public offerings in market history. The number is real. The assumptions underneath it deserve a closer look.
Analysts are split on whether the largest IPO in history prices in a business or a belief system.
A disclosure update in SpaceX's IPO filing has revived speculation about a Tesla combination — but there is no signed deal, no announced terms, and a long road between a regulatory filing and a closed transaction.
The AI lab's IPO move is the most consequential market test of the current AI investment cycle — and the assumptions baked into that number deserve a close read.
The author of 'Cyberselfish' argues that Silicon Valley's foundational capital came from government investment — and that its wealthiest figures are now lobbying against the taxes that made them possible.
Fortune's analysis puts a number on what combining Elon Musk's two flagship companies would mean financially — but valuation gaps, structural complexity, and regulatory exposure make any deal far from straightforward.
A New Glenn failure knocks Blue Origin out of contention for Artemis III, leaving NASA with a single-vendor dependency on SpaceX at the precise moment Elon Musk is reportedly preparing to take the company public.
Warren Buffett's firm has taken a stake in U.S. homebuilders, prompting analysts to revisit which names in the sector carry the strongest and weakest fundamentals.