Today could go down as one of the most important days in stock market history.
And not just with another high-profile tech IPO.
This is expected to be the largest IPO ever, with SpaceX reportedly seeking to raise roughly $75 billion at a valuation around $1.75 trillion. Investor demand has been massive, with Reuters reporting more than $250 billion in orders - nearly four times the planned offering size.
That tells us something important.
The IPO market is not dead. In fact, it may be waking up in a big way.
Why the SpaceX IPO Changes Everything
For the last few years, the IPO window was mostly closed. Higher interest rates, weaker risk appetite, and the hangover from the 2020–2021 speculative boom kept many private companies on the sidelines.
But that may be changing.
SpaceX is the headline. But it is also a signal.
When the market is willing to absorb a deal of this size, it tells us institutional investors are once again hungry for growth, innovation, and access to the companies shaping the next decade.
And SpaceX checks nearly every box.
It is not just a rocket company anymore. It is a space company, a satellite internet company, a defense contractor, an AI infrastructure story, and potentially the backbone of a future orbital data center economy.
That is why investors are so excited.
But I want to be very clear.
I would not chase SpaceX stock on day one.
History shows that many large IPOs pull back after the initial excitement fades. The best companies in the world can still be bad investments if you pay the wrong price. And with SpaceX coming public at a massive valuation, patience is the smart move.
I believe SpaceX will be one of the most important public companies of the next decade. But I would rather let the hype settle, let the market digest the valuation, and look for a better entry point.
The Bigger Story Is What Comes Next
Be aware that SpaceX, OpenAI, and Anthropic could represent more than $200 billion in combined IPO issuance in 2026 if all three come public. That would be historic.
OpenAI and Anthropic are two of the most important AI companies in the world. If they go public, it could dramatically expand investor access to the AI boom beyond Nvidia, Microsoft, and the same handful of mega-cap names.
Fintech could also be part of the next IPO wave.
Black Banx has been discussed as a potential IPO candidate after reporting $17.1 billion in 2025 revenue, $6.5 billion in profit, and nearly 100 million customers. The company has not formally announced IPO plans, but its scale and profitability make it one of the more interesting fintech names to watch.
And it is not just technology.
Biotech is showing signs of life too.
Parabilis Medicines just raised $670 million in what BioPharma Dive called a record IPO for a venture-backed biotech company. Even more important, 12 drug startups have already gone public in 2026 and raised more than $4.1 billion combined.
IPOs Are The Lifeblood Of Innovation
They give companies access to capital. They give early investors liquidity. And they give everyday investors the chance to participate in the next generation of market leaders.
But the key is discipline.
The return of the IPO market is bullish. It tells us risk appetite is returning. It tells us innovation is being rewarded again. And it could create a wave of new opportunities across space, AI, fintech, biotech, robotics, defense, and energy.
But not every IPO should be bought.
And almost none should be chased blindly.
My approach is simple: watch the best companies, respect the hype, but wait for the right setup.
SpaceX may be making history today.
But for investors, the real opportunity may come after the opening bell excitement fades.
To your future success,
Matt McCall
Founder, NXT Wave Research
