TechFlow News, April 29: Caixin published an article titled “SpaceX’s $1.75 Trillion IPO Imminent: Who Can Buy It? Is It Worth Buying?” The article notes that Wall Street has never encountered a company with such a massive IPO size and simultaneously such a complex relationship with the U.S. government. Nasdaq has previously introduced a “Fast Entry” rule, under which newly listed companies qualifying for inclusion in the top 40 by market capitalization within the Nasdaq-100 Index will be added to the index within 15 trading days of their listing. This rule takes effect on May 1, 2026, and is widely viewed as specifically designed for SpaceX’s upcoming IPO—as well as paving the way for potential IPOs of OpenAI and Anthropic in late 2026 or 2027.
Assuming SpaceX lists at a $1.75 trillion valuation with a free-float ratio of 25% to 30%, its freely tradable market capitalization on the first day of trading would range approximately between $440 billion and $530 billion. Based on Nasdaq-100 weighting methodology, SpaceX would immediately rank among the top ten constituents by weight. Market sources indicate that the S&P 500 is also evaluating some form of “fast entry” mechanism, though details remain undisclosed.
