Mega-IPOs could signal market top, say analysts as SpaceX and OpenAI prep record floats

Key points

• A SpaceX Falcon 9 rocket carrying the company's Dragon spacecraft is launched on NASA's SpaceX Crew-12 mission to the International Space Station with NASA astronauts Jessica Meir, Jack Hathaway, ESA (European Space Agency) astronaut Sophie Adenot, and Roscosmos cosmonaut Andrey Fedyaev onboard, on Feb.
• 13, 2026 from Cape Canaveral Space Force Station in Florida.
• A flurry of initial public offerings from mega-cap companies this year could mark the top of the market, strategists said, drawing parallels with the late-1990s dot-com bubble.
• SpaceX's hotly anticipated IPO, confirmed in a regulatory filing on Thursday and expected on June 12, could mark the largest float in history.
• Elon Musk's firm is targeting a valuation of $1.75 trillion on the Nasdaq.