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- Elon’s SpaceX said to target Jun. 12 Nasdaq IPO after fast SEC review
Elon’s SpaceX said to target Jun. 12 Nasdaq IPO after fast SEC review
Bay Area Times
May 18, 2026
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Top stories today:
- Elon’s SpaceX said to target Jun. 12 Nasdaq IPO after fast SEC review
- OpenAI reorganizes product teams under Greg Brockman strategy role
- Anthropic, OpenAI dominate AI startup revenue
- Anthropic said to brief FSB on financial risks identified by Mythos
- China retail sales +0.2% YoY in Apr. as slowdown deepens
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Elon’s SpaceX said to target Jun. 12 Nasdaq IPO after fast SEC review
Representational image generated using ChatGPT.
This week: SpaceX is reportedly set to make its prospectus public.
Jun. 4: roadshow is being targeted.
“SPCX” is expected to be the company’s Nasdaq ticker.
SpaceX is expected to raise ~$75B at an ~$1.75T valuation, potentially the largest stock market flotation ever.
Lead bookrunners include Morgan Stanley, Bank of America, Citigroup, JPMorgan Chase, and Goldman Sachs.
BlackRock has reportedly discussed a $5B-$10B investment in SpaceX’s IPO as a confidence vote.
The listing would mark a major win for Nasdaq amid competition from New York Stock Exchange.
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3. OpenAI reorganizes product teams under Greg Brockman strategy role
Brockman will lead OpenAI’s product strategy, per a memo internally on Fri.
He had previously been assigned on an interim basis to oversee products while Fidji Simo was on sick leave.
OpenAI is folding ChatGPT, Codex, and its developer-facing API into one core product team.
OpenAI’s Codex chief Thibault Sottiaux will lead the core product and platform teams.
ChatGPT head Nick Turley will oversee OpenAI’s enterprise products.
OpenAI has launched personal finance tools for U.S. ChatGPT Pro users through a Plaid partnership
Plaid will manage account connections to 12K+ financial institutions, including Charles Schwab, Fidelity, JPMorgan, Robinhood, AMEX, and Capital One.
Users need to connect their bank accounts to access financial tools through ChatGPT.
A dashboard will show portfolio performance, spending, subscriptions, and upcoming payments.
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5. Anthropic, OpenAI dominate AI startup revenue as market hits ~$80B run-rate
Anthropic and OpenAI are accounting for 89% of leading AI startup revenue:
