S&P 500 Proposes Fast-Track Rules for SpaceX, OpenAI, Anthropic IPOs

S&P Dow Jones Indices opened a formal review on April 30, 2026, proposing to cut the S&P 500 listing period from 12 to six months and exempt megacaps from GAAP profitability tests. This targets giants like SpaceX ($1.25T-$2T valuation, $5B loss on $18.5B revenue), OpenAI ($852B), and Anthropic ($380B-$900B), enabling quicker inclusion and massive passive ETF inflows. The move follows Nasdaq's fast-entry update and FTSE Russell's review, potentially reshaping index composition and boosting liquidity amid mega-IPO hype. No rules adopted yet.