Why Elon Musk's SpaceX is coming back down to earth
6/24/202630 min
Chanticleer columnist Anthony Macdonald and technology editor Paul Smith on the investment case for SpaceX, whether there’s enough money for the other AI mega floats and why Australian investors are all in.
This podcast is sponsored by Aussie Broadband.
Further reading:
SpaceX is the first of three sci-fi IPOs with truly insane maths
Elon Musk has shot for the stars with the first of three huge AI-based floats that ask investors to believe the companies can boldly go where no one has gone before.
Fears of ‘AI Strait of Hormuz’ as Trump’s Anthropic ban shocks business
Labor’s Ed Husic and some of Australia’s top tech leaders warn Donald Trump’s export ban on the latest Anthropic AI models exposes a national over-reliance.
How SpaceX turned the IPO curse into a goldmine
The real genius of the company’s historic $2 trillion public listing isn’t the valuation – it’s how it hacked the market’s ultimate gatekeepers: passive funds.
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Clips
Transcript preview
First 90 secondsLisa Murray· Host0:00
[upbeat music] The Australian Financial Review. It was the IPO that rocked the world. On June 12, Elon Musk rang the bell to take SpaceX public.
Speaker 2· Soundbite0:16
[gentle music] SpaceX is blasting off on the stock market in a way that no company in human history has ever done.
Lisa Murray· Host0:25
The biggest ever market float didn't disappoint. Shares jumped nearly 20% on that first day, crowning Musk the world's first trillionaire.
Speaker 3· Soundbite0:34
That means he's valued more than the GDPs of all but 20 countries.
Lisa Murray· Host0:40
Tens of thousands of Australian retail investors jumped on board, alongside the country's super funds and billionaire Gina Rinehart. They are all betting on the AI boom, and SpaceX is just the start, with OpenAI and Anthropic also planning to list in the next six months. But this week, SpaceX has had a reality check.
Speaker 4· Soundbite1:04
This was the most hotly anticipated IPO of the year so far, and we're seeing just yesterday that share price slumping some 16% in a single day.
Lisa Murray· Host1:14
The share price volatility has people starting to question whether these are just hopes and dreams IPOs or they're the real deal.
Anthony Macdonald· Guest1:22
So it's very quickly turned SpaceX's share price into more than a test of founder Elon Musk and its rockets.