SpaceX, valued at $1.7 trillion, pushes for Nasdaq listing

Korea Economic Daily

Summary

SpaceX is pursuing a Nasdaq listing ahead of what could be the largest initial public offering (IPO) in history.
SpaceX has made early inclusion in the Nasdaq-100 a condition, noting that inclusion would make it easier to secure liquidity as exchange-traded fund (ETF) inflows track the index.
SpaceX is expected to command a $1.75 trillion valuation through the IPO, while Anthropic and OpenAI are also pursuing IPOs this year.

Forecast Trend Report by Period

SpaceX, the aerospace company preparing for what could be the largest initial public offering (IPO) in history, is pursuing a listing on the Nasdaq.

Reuters reported on the 10th (local time), citing multiple sources, that SpaceX is leaning toward a Nasdaq listing and has set early inclusion in the Nasdaq-100 as a condition. The Nasdaq-100 is an index comprising the top 100 Nasdaq-listed companies excluding financials. Nvidia, Apple and Amazon are among the flagship tech stocks in the Nasdaq-100.

Inclusion in the Nasdaq-100 makes it easier to secure liquidity as funds tracking the index—such as exchange-traded funds (ETFs)—flow in. In the past, joining major exchange indices typically required waiting several months after listing, but a new path opened last month when Nasdaq reviewed a fast-track plan to attract marquee listings. The move is aimed at drawing in highly valued private companies such as SpaceX, Anthropic and OpenAI. Under the fast-track plan, a newly listed company can become eligible for inclusion within a month if its market capitalization ranks within the top 40 among current index constituents.

The New York Stock Exchange (NYSE) is also competing with Nasdaq to win SpaceX’s listing. SpaceX, led by Elon Musk, is targeting a listing around June this year. The company is expected to be valued at $1.75 trillion (about 2520 trillion won) through the IPO. Anthropic and OpenAI are also pursuing IPOs this year.

Choi Man-su bebop@hankyung.com