Filings with the U.S. Federal Trade Commission list Tesla (TSLA) as the acquirer of a stake in SpaceX from Elon Musk, who is CEO of both companies and the documents, dated March 11, also show Musk selling holdings to investors including Valor Equity Partners and DFJ Growth. The Tesla filings are related to its previously announced $2B investment in xAI, which is being rolled over into SpaceX after the recent merger of the AI firm with the space-launch company, people familiar with the matter told Bloomberg ...

Group 1 - Tesla shares are currently consolidating, with an outlook on TSLA shares amid SpaceX gearing up for its IPO, which Musk hinted could reach a valuation of $1.75 trillion due to plans for Mars colonization and orbital expansion [1] - SpaceX is reportedly preparing to file confidentially for an IPO as early as next month, aiming for a June listing that could raise up to $50 billion, potentially surpassing Saudi Aramco's $29 billion debut to become the largest IPO in history [1] - Citigroup has joined other major banks, including Bank of America, Goldman Sachs Group, JPMorgan Chase, Morgan Stanley, Royal Bank of Canada, and Mizuho, in preparing for the SpaceX IPO process [2] Group 2 - Tesla announced a $2 billion investment into xAI, participating in its Series E funding round, which recently raised a total of $20 billion and values the firm at $230 billion [2] - Musk announced that SpaceX had acquired his artificial intelligence startup xAI, with the transaction valuing SpaceX at about $1 trillion and xAI at roughly $250 billion [3]

Core Viewpoint - Michael Burry criticized Nasdaq's proposed rule changes, claiming they are designed to manipulate the index for the benefit of a single company, specifically SpaceX, ahead of its anticipated IPO [1]. Group 1: SpaceX IPO Details - SpaceX, led by Elon Musk, is targeting a valuation of $1.75 trillion for what could be the largest IPO in history, with a potential Nasdaq listing as early as June [2]. - Musk confirmed the $1.75 trillion valuation on social media [2]. Group 2: Proposed Nasdaq Rule Changes - The "Fast Entry" rule would allow new public companies to enter the Nasdaq-100 index after just 15 trading days, eliminating the typical 12-month seasoning period [3][4]. - This rule change could expose passive investors to untested stocks, as there would be no liquidity requirements [4]. Group 3: Float Multiplier Controversy - The proposed 5x float multiplier would weight stocks with under 20% free float at five times their actual float, potentially inflating the perceived value of SpaceX [5]. - For SpaceX's $1.75 trillion valuation, a 5% float would mean only $87.5 billion in publicly tradable stock, but the multiplier would make it appear as if it were worth $437.5 billion [6]. Group 4: Implications for Investors - The proposed changes could lead to passive funds inflating the stock price, with insiders, who hold 95% of shares, selling when lock-up periods expire, effectively making passive investors the exit liquidity [7].

S&P Dow Jones Indices is considering changes, according to people familiar with the matter, that could fast-track SpaceX onto the S&P 500 index after its IPO. Peter Singlehurst, head of the private companies team at Baillie Gifford, an investor in SpaceX, discusses the rocket company’s future and what is driving high private market valuations more widely. He joins Ed Ludlow on “Bloomberg Tech.” -------- Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_ ...

Group 1 - SpaceX and the banks underwriting its IPO have selected Gibson Dunn and Davis Polk & Wardwell as their legal advisors, marking a significant step in the IPO preparation process [1][2] - A confidential filing for the IPO could occur as soon as this month, with a target valuation of $1.75 trillion, positioning SpaceX among the most highly valued companies globally [3] - SpaceX's recent acquisition of xAI valued the combined entity at $1.25 trillion, integrating Musk's various ventures under one umbrella [5] Group 2 - The IPO landscape for 2023 is expected to be notable, with significant offerings from AI companies like Anthropic and OpenAI, indicating a robust market for public listings [6] - Davis Polk has a strong track record, having worked on major U.S. IPOs such as Uber and Arm Holdings, and is currently ranked No. 1 in capital markets league tables [6] - SpaceX is in discussions with several major banks, including Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, for leading roles in the IPO [4]

Group 1 - SpaceX has selected Gibson Dunn as its legal advisor for its upcoming IPO, while the underwriting banks have chosen Davis Polk & Wardwell for legal representation [1][1] - The anticipated valuation for SpaceX's IPO is $1.75 trillion, which would position it among the most highly valued companies globally [1][1] - A confidential filing for the IPO could occur as soon as this month, marking a significant step in the public listing process [1][1] Group 2 - SpaceX is interviewing major banks, including Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, for leading roles in the IPO [1][1] - The company recently acquired Musk's xAI, valuing the combined entity at $1.25 trillion, which includes Musk's rockets, Starlink satellites, and the X social media platform [1][1] - The year is expected to be significant for IPOs, with other major offerings planned from AI companies like Anthropic and OpenAI [1][1]

Falcon 9 launches 25 @Starlink satellites from California https://t.co/J2qlYaBs3W ...

Elon Musk is drawing on his past playbook with SpaceX taking over xAI ahead of the orbital launch company’s initial public offering, positioning the combined business for a burst of growth, according to a SpaceX investor https://t.co/eRfGRDikzg ...

Group 1 - Elon Musk has initiated further job cuts at xAI due to dissatisfaction with the performance of the startup's coding division, leading to the departure of several co-founders [1][2] - The management of xAI was overhauled last month in preparation for a potential initial public offering, which could be one of the largest ever, following its merger with SpaceX [1] - Co-founder Guodong Zhang has confirmed his departure after being blamed for issues with the coding product, while another co-founder, Zihang Dai, also left recently, reducing the number of co-founders from 12 to 2 [2][3] Group 2 - The restructuring has reportedly harmed employee morale at xAI, with staff expressing concerns that it hinders the company's potential [3] - There is a trend of researchers leaving xAI due to burnout from Musk's demanding work environment or better offers from competitors, with recruiters reaching out to previously rejected candidates [4] - xAI has recently hired Andrew Milich and Jason Ginsberg from the code-generation startup Cursor, indicating ongoing recruitment efforts despite the recent upheaval [5]

Deployment of 25 @Starlink satellites confirmed ...