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SpaceX(SPCX.US) is about to make history.

With a proposed valuation of roughly $1.77 trillion and an IPO expected to raise around $75 billion, Elon Musk's rocket and satellite giant is on track to become the largest public offering ever recorded.

But Wall Street's attention is increasingly shifting away from the size of the deal itself and toward what could happen immediately afterward.

How to seize opportunities using relevant ETFs and industry chains? The answer will be provided at the end of the article.

SpaceX IPO Enters Uncharted Territory as Passive Funds Rush In

According to index analytics firm Intropic, major benchmark providers including Nasdaq, FTSE Russell, and MSCI are expected to fast-track SpaceX into their indices shortly after listing. As a result, passive investment vehicles could end up owning nearly 30% of SpaceX's free float within just 15 days of trading, compared with roughly 4% under traditional index inclusion timelines.

While passive funds are expected to purchase only tens of billions of dollars worth of shares directly, the "$500 billion buying wave" refers to the potential market-value impact created by a combination of index-fund demand, retail participation, and momentum-driven buying, which could temporarily add hundreds of billions of dollars to SpaceX's market capitalization if the stock experiences a Tesla-style post-IPO re-rating.

For investors, this creates a rare setup where structural demand—not necessarily fundamentals—could become a major force driving short-term price action.

Retail Investors Get an Unusually Large Slice

A unique aspect of the IPO is the company's allocation strategy.

SpaceX is reportedly targeting approximately 30% of IPO shares for retail investors, far above the typical 5%-10% allocation seen in most U.S. offerings.

Brokerage platforms expected to participate include Schwab, Fidelity, Robinhood, SoFi, and E-Trade.

Combined with massive institutional demand and passive fund inflows, retail participation could further increase early trading volatility.

The company has also taken the unusual step of setting a fixed IPO price of $135 per share, effectively presenting investors with a take-it-or-leave-it offer rather than the traditional price-range discovery process.

Some IPO veterans have questioned the valuation methodology, but demand remains exceptionally strong.

Goldman Sachs: Earnings Are Still Driving The Bull Market

Goldman Sachs strategists have also pushed back against concerns that today's market resembles a speculative bubble.

According to Goldman, S&P 500 forward earnings expectations have risen approximately 15% this year, while valuation multiples have actually contracted slightly.

The firm's analysts estimate that AI-related capital spending—particularly data-center investment—could account for roughly half of expected earnings growth within the index.

That distinction matters.

Unlike the late-1990s technology bubble, today's leading AI companies are generating substantial revenue and cash flow while simultaneously increasing investment.

In Goldman’s view, earnings growth remains the primary engine supporting equities.

Where Investors Are Looking For Opportunity

Which ETFs should we pay close attention to?

Other Assets Deserve Watching:

Regardless of how SpaceX trades after listing, the IPO is likely to redirect investor attention toward several themes closely tied to the company's ecosystem.

1. Satellite Communications

SpaceX's Starlink business has become one of the most important growth engines inside the company.

Publicly traded companies exposed to satellite connectivity and next-generation communications infrastructure could attract renewed attention as investors search for secondary beneficiaries of the space economy.

Examples often cited by market participants include:

• AST SPACEMOBILE INC(ASTS.US)
• Globalstar, Inc.(GSAT.US)
• Iridium Communications Inc.(IRDM.US)

2. AI Infrastructure & Data Centers

The AI buildout remains one of the strongest investment themes in global markets.

As capital continues flowing into data centers, networking, semiconductors, and power infrastructure, investors are increasingly focused on the "picks-and-shovels" suppliers benefiting regardless of which AI platforms ultimately win.

Frequently discussed names include:

• NVIDIA Corporation(NVDA.US)
• Advanced Micro Devices, Inc.(AMD.US)
• Broadcom Limited(AVGO.US)
• VERTIV HOLDINGS LLC(VRT.US)

3. Memory & AI Servers

The rapid expansion of AI computing has also created surging demand for high-bandwidth memory and AI server infrastructure.

Companies often highlighted by analysts include:

• Micron Technology, Inc.(MU.US)
• Dell Technologies, Inc. Class C(DELL.US)
• Super Micro Computer, Inc.(SMCI.US)

4. Aerospace & Defense

SpaceX's public debut could trigger broader investor interest in commercial space and defense-related technologies.

Market participants frequently watch:

• Rocket Lab(RKLB.US)
• Kratos Defense & Security Solutions, Inc.(KTOS.US)
• L3Harris Technologies Inc(LHX.US)

SpaceX's IPO is not just another listing.

It represents the collision of several powerful market forces: Elon Musk's investor following, AI-driven optimism, passive investing, retail participation, and the largest IPO in history.

The most important question may not be whether SpaceX deserves its valuation, but whether the mechanics of modern markets can temporarily push the stock beyond what fundamentals alone would justify.

For investors, the bigger opportunity may extend beyond SpaceX itself. History suggests that landmark IPOs often create ripple effects across adjacent industries, drawing capital toward suppliers, infrastructure providers, and thematic beneficiaries.

Whether the post-IPO enthusiasm proves durable or fleeting, SpaceX is poised to become one of the market's most influential catalysts of 2026.