SpaceX and other super unicorns IPO or reshape stock index weight

SpaceX, OpenAI, Anthropic and other companies are pushing for IPOs on the US stock market, while Wall Street institutions are adjusting their holdings to increase their cash reserves. Goldman Sachs' John Flood stated that historically, large pre IPO stock funds have increased their cash reserves, and currently some passive index funds are considering reducing their holdings of existing technology stocks to make room for new index components. SpaceX's IPO valuation is expected to be around $1.5 trillion to $1.75 trillion, while OpenAI and Anthropic are valued at nearly $1 trillion. FTSE Russell, NASDAQ, and S&P Dow Jones Index companies are revising their rules to accelerate the inclusion of new stocks in the index. Passive funds may become a stable source of demand for super IPOs, but the market is concerned about the risk of buying new stocks at high premiums.