S&P, Nasdaq Contort Rules to Fast-Track SpaceX, OpenAI into Major Indexes

S&P Dow Jones Indices opened consultation on May 2 for rule changes fast-tracking megacap (>= $200B) IPOs into the S&P 500, shortening public trading to six months from 12, waiving GAAP profitability, and removing the 0.10 investable weight factor. This follows Elon Musk's March 16 push for SpaceX's ~$2T late-June IPO inclusion, with May 1 proposals also targeting Anthropic (~$900B) and OpenAI (~$852B). Comments due May 28 could enable June 8 implementation, redirecting $24T in S&P 500-tracking funds, as Nasdaq and others pursue parallel reforms.