Bloomberg Tech Notify me• Jun 12, 2026• 53:15Interview

SpaceX Makes History With Biggest-Ever IPO | Bloomberg Tech

From Bloomberg Tech

Caroline Hyde(Bloomberg host and technology market analyst)•Ed Ludlow(Host of Bloomberg Tech)•Christian Garrett(137 Ventures)•Anis Uzzaman(Guest)•Yajaira Alain(unknown)•Mandeep Singh(Intelligence Analyst at Bloomberg Intelligence)•Rebecca Torrance(unknown)•Alexandra Merz(Guest)•Loren Grush(unknown)•Nancy Tengler(Guest)•Bailey Lipschultz(senior reporter)

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Executive Summary

Continue your research

Keep pulling the thread on Christian Garrett.

The Pivot to AI Infrastructure Record-Breaking Market Debut

12 quotes

Concerns Raised

The valuation is considered rich, exceeding $2 trillion at its market debut, which sets a high bar for future performance.
The success of long-term plans, like orbital data centers and Starlink V3, is critically dependent on the successful and timely development of the fully reusable Starship rocket.
The massive capital expenditure required for building out global AI data center infrastructure, both terrestrial and in orbit.

Opportunities Identified

Dominating the enterprise AI market with a new class of terrestrial and orbital data centers, targeting a $28 trillion TAM.
Rapidly scaling the high-margin, recurring revenue from its terrestrial compute business, which is already on a $26B run rate.
A potential future merger with Tesla, creating a conglomerate with unparalleled capabilities in AI, energy, robotics, and connectivity.
Continued expansion of the Starlink satellite internet service, which is projected to grow to connect a significant portion of the world's internet users.

Key Themes

Research Findings12

Retail investors were allocated 20% of the SpaceX IPO, equivalent to about $15 billion.

Retail investors placed orders for approximately $100 billion worth of SpaceX shares, far exceeding the $15 billion allocation.

SpaceX shares opened for trading at $150 per share, an 11% increase from its $135 IPO price.

Alexandra Mertz's investment thesis is that Tesla and SpaceX will merge, with an announcement in a couple of weeks and consummation in the first half of 2027.

Elon Musk holds 84% of the voting power in SpaceX following its IPO.

SpaceX's Initial Public Offering was priced at $134 per share.

The indicated opening price for SpaceX shares was $162 each, a 20% increase over the IPO price.

An indicated opening price of $162 per share for SpaceX implies a valuation of approximately $2.1 trillion.

SpaceX was the first company to build a partially reusable rocket, which significantly reduced the cost of space launches.

SpaceX's Starlink business grew from $0 to over $11 billion in revenue in just a couple of years.

Christian Garrett believes SpaceX's capital from the IPO will be heavily focused on building out data centers for the xAI business.

SpaceX's S-1 filing identified a total addressable market of over $28 trillion, primarily from enterprise AI applications.

Topics

SpaceX IPO AI Infrastructure Starlink Starship Orbital Data Centers Venture Capital Elon Musk xAI Enterprise AI Reusable Rockets Public Markets Valuation Tesla Andreessen Horowitz Founders Fund

Processed Jun 13, 2026Daily intelligence brief → yt-dlp + mlx-whisper + Gemini

SpaceX Makes History With Biggest-Ever IPO | Bloomberg Tech

Continue your research

Concerns Raised

Opportunities Identified

Key Themes

The Pivot to AI Infrastructure

Record-Breaking Market Debut

Venture Capital Windfall

Enabling the Long-Term Vision

Future Growth and Speculation

Research Findings12

Topics