How Upcoming Mega-IPOs Could Impact Broader Markets

SpaceX’s IPO filing is framed as a market-moving event beyond aerospace, with TD Epoch saying the deal could price at $1.75–2 trillion and trade at about 100x revenue. Analysts expect strong demand—potentially a 20–40% first‑day pop, with roughly 30% retail participation and heavy oversubscription. A successful listing could boost appetite for AI/infra-related IPOs (e.g., OpenAI, Anthropic), broaden mega‑cap concentration from a ‘Meg 7’ toward a ‘Meg 10,’ and influence broader equity markets including the S&P 500. The note also flags valuation risks and founder control issues, implying elevated near‑term volatility despite positive demand dynamics.