SpaceX is the Biggest IPO in History & World Cup Wagers Reach $50B

SpaceX's historic IPO—targeting a $1.8 trillion valuation and raising $75 billion—has Wall Street reeling, with investors betting not just on rockets, but on Elon Musk’s vision of AI-powered space infrastructure, Mars colonization, and global satellite internet. The offering, the largest in history, is so massive that it’s already reshaping the market: retail investors are selling off tech stocks like Micron and Bitcoin to free up cash, while space rivals like Rocket Lab and AST Mobile surge on a halo effect. Yet the valuation—nearly 100 times SpaceX’s $19 billion revenue—has critics calling it a 'hopes and dreams IPO,' with Morningstar valuing shares at 50% below the offering price. Meanwhile, Jeff Bezos has launched Prometheus, a $41 billion AI venture focused on 'physical AI' to supercharge manufacturing, arguing that AI won’t replace workers but will create a labor shortage by making invention faster and cheaper. On the sports front, the World Cup is set to generate $50 billion in global bets—43% more than 2022—driven by expanded games, legal betting in 65% of U.S. states, and prediction markets like Polymarket, which already has over $2 billion on the final. With the U.S. men’s team opening against Paraguay and the Knicks on the brink of a title, the weekend promises a cultural and financial spectacle unlike any other.