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Stock Offering Could Take Place as Soon as Next Week, According to Reports

The SpaceX IPO is expected to be the biggest ever.
Credit: Samuel Boivin / NurPhoto via Getty Images

Key Takeaways

• A new SEC filing offers some of the most-detailed figures regarding the SpaceX IPO yet, with the document saying the company could go public at $135 per share.
• The listing could come as soon as next week, some news organizations have reported.

SpaceX hasn't officially said exactly when its IPO will happen. But a new company document offers the most detailed clues yet about the shape the deal could take.

The Elon Musk-led company in a late-Wednesday regulatory filing said it expects to sell shares—555,555,555 of them, to be precise, intended to trade using the symbol "SPCX"—at $135 apiece, raising about $75 billion. The filing followed reporting from Reuters and other news organizations that first included those details. That would be the biggest raise of all time, and it would point toward a valuation of about $1.75 trillion—a number that would immediately place the company in the upper echelon of the S&P 500's membership when sorted by market value. (SpaceX did not respond to Investopedia's request for comment in time for publication.)

Reports have indicated that SpaceX's IPO could happen as soon as next week, kicking off what's expected to be a rush of massive new listings. It's somewhat unusual for a company to offer up a share price, rather than a range of possible prices, until a day or so before the IPO; a Wall Street Journal report, citing people close to the deal, said the price was expected to "simplify" the process as the company shops its offering.

Anthropic, which last month raised money at a private valuation approaching $1 trillion, recently said it's moving closer to an IPO, filing confidentially with the SEC; Investors are also eyeing the possibility of one from OpenAI. Taken together, the deals could draw substantial interest and, perhaps, pull some away from other assets as investors look to get behind companies seen as driving markets forward in the back half of 2026. (They've already shown an affinity for space-themed ETFs.)

Those IPOS are "expected to deepen index liquidity, attract fresh capital inflows and sustain the momentum dynamic that has supported equity returns in early 2026," according to Allianz.

Should investors want to see the shares of companies like SpaceX fly out of the gate? Perhaps not. IPOs that priced between 1995 and 1998 had average first-day returns under 20%, according to DataTrek, while those in 1999, as the dot-com bubble lost air, managed more than 70%.

At a macro level, history clearly shows that aggregate large first day returns are a clear sign of a market top," DataTrek wrote in a Tuesday report.

One recent IPO that soared upon going public was Cerebras (CBRS), an AI chipmaker. Its shares have since cooled, and are below their offer price, but they remain above their IPO price.

This article has been updated since it was first published to reflect the filing of the regulatory filing on Wednesday.

News of the day for June 3, 2026

After a series of record highs, the S&P 500 has now gained 11% since the start of the year.
Credit: Angela Weiss / AFP / Getty Images

Stock futures are mixed after major indexes closed at record highs again yesterday, while oil prices are rising as investors monitor the conflict in the Middle East; chipmaking giant Broadcom is slated to report its quarterly results after the closing bell; the Trump administration is proposing new tariffs on dozens of countries over alleged failures to prevent goods made with forced labor from being included in their exports; Palo Alto Networks shares are slipping despite a solid earnings report from the cybersecurity provider; and the OECD is predicting a slowdown in economic growth this year due to the Iran war and the inflation it has caused. Here's what you need to know today.

Stock Futures Are Mixed as Oil Prices Rise

Stock futures are pointing to a mixed open for major indexes this morning after another session of record highs on Tuesday. Futures tied to the tech-heavy Nasdaq were up 0.2% recently, while futures linked to the S&P 500 and the Dow Jones Industrial Average slipped 0.1% and 0.2%, respectively. WTI crude oil futures were up 2% at $95.75 per barrel after Iran reportedly launched missiles at Bahrain and Kuwait, while the U.S. struck a military facility on an island in the Strait of Hormuz. Bitcoin was trading at around $67,000, recovering from an overnight low of $65,400, its lowest level since late March. Gold futures were down less than 1% at $4,490 an ounce, while the yield on the 10-year Treasury note rose to 4.48% from 4.45% at yesterday's close.

Broadcom Earnings Due After the Closing Bell

Broadcom (AVGO) is set to report its quarterly results after the closing bell, in what is expected to have been the latest in a string of strong quarters for the chipmaker. Broadcom's stock, which has surged in recent weeks alongside the broader AI rally, closed at a fresh high above $481 yesterday, as Google's massive fundraising effort affirmed investors' confidence that the key Broadcom customer plans to continue spending big on AI. Shares of the chipmaker were up another 2% in premarket trading after gaining nearly 5% yesterday.

Trump Administration Proposes New Tariffs After Forced Labor Review

More new tariffs could be on the way, as the Office of the U.S. Trade Representative said in a report issued Tuesday that a number of countries should have new tariffs levied on their imports because of failures to prevent goods made with forced labor from being included in those imports. The report suggested tariffs of 10% to 12.5% for all 60 of the economies it investigated, including Canada, Mexico, the European Union and China. The investigations started in February, after the Supreme Court struck down most of the tariffs President Trump imposed last year, finding that he did not have the power to impose such wide-ranging import taxes under an emergency declaration.

Palo Alto Networks Stock Slips Despite Solid Results

Shares of Palo Alto Networks (PANW) are losing ground in premarket trading after the cybersecurity firm posted its latest quarterly results. The company said late Tuesday it earned an adjusted 85 cents per share on $3.0 billion in revenue in its fiscal third quarter, each moderately beating the analyst consensus compiled by Visible Alpha. The company's outlook also topped estimates. The stock was likely facing high expectations after rallying to record highs ahead of the report, as sentiment has improved around the cybersecurity sector recently. Palo Alto shares, which initially jumped in after-hours trading yesterday, were down about 2% ahead of the opening bell.

OECD Warns of Slowing Economic Growth Due to Iran War

The Iran war is hampering economic growth across the globe, according to the Organisation for Economic Co-operation and Development (OECD). The group said in its latest economic outlook report released this morning that the conflict in the Middle East "has become the dominant force" shaping the future of the economy, as soaring fuel prices have caused broader inflation across the globe. The OECD said that assuming a "lasting resolution" to the conflict, global economic growth will likely slow to 2.8% this year from 3.4% in 2025, and increase to 3.1% in 2027. With a continued disruption, however, growth could slow to 2.1% this year and 1.8% next year.

Bitcoin and crypto stocks were hit hard on Tuesday.
Credit: Getty Images

Key Takeaways

• A broad pullback hit cryptocurrency and related shares on Tuesday, with bitcoin sliding below $70,000 to its lowest level in two months.
• A range of issues could be hitting the coin and the sector, including bitcoin sales by longtime buyer Strategy and enthusiasm for other assets.

It looked like "crypto winter" might be over. It may not be back—but there's a chill in the air.

You can feel it in the pullback in bitcoin and crypto-linked assets hitting markets today. Bitcoin, which had clawed its way back above $80,000 after dropping into the $60,000 range earlier this year from late-2025 record highs in the six digits, was around $67,000 recently. Several crypto-linked stocks are in retreat: Strategy (MSTR), which yesterday revealed bitcoin sales for the first time in years, dropped 9% on Tuesday, while crypto exchange Coinbase Global (COIN) fell roughly 5% and stablecoin issuer Circle Internet (CRCL), which has been strong lately, slid 4%.

Flows into spot bitcoin ETFs have lately tailed off, according to Farside Investors data. The total market capitalization of cryptocurrency was recently off more than 4%, according to CoinMarketCap. Bitcoin has now lost more than 20% of its value since the start of the year.

The broader stock market, meanwhile, continued to touch record highs today, an indication that investor appetite for risk hasn't switched off. So what's ailing crypto? It's difficult to say, though several factors may be converging, among them perhaps that investors could be looking to move risk capital out of bitcoin and into other assets as high-profile IPOs approach and tech shares stay hot. Some of that money may even be moving into quantum computing; one measure, the Defiance Quantum ETF (QTUM), rose more than 3% today and has gained 50% this year.

Strategy's bitcoin sales were comparatively small—the company raised some $2.5 million with them—but investors have evidently decided they didn't like the look of a company associated with the idea of buying bitcoin and holding it forever doing something other than that. (Today's declines, however, were more dramatic than yesterday's, when the news was fresh.)

Looking back a bit, recent comments by JPMorgan Chase CEO Jamie Dimon suggested that some hard-won progress for the Clarity Act, a bill that has shown signs of life and been described as a potential win for the cryptocurrency sector broadly, may not be as certain as hoped. Shares of SoFi Technologies (SOFI), which got a boost last week from news of a stablecoin launch—stablecoin rewards are a sticking point between traditional banks and the crypto industry in the Clarity debate—were down more than 4% today.

The bill, however, is reportedly moving closer to a vote, according to reports. "We are closer to a functioning digital asset market structure than we have ever been," U.S. Sen. Cynthia Lummis wrote Tuesday on X. "Now is not the time to flinch."

Broadcom shares are up nearly 40% since the start of the year.
Credit: Nikos Pekiaridis / NurPhoto / Getty Images

Key Takeaways

• Broadcom shares climbed to a fresh high Tuesday, ahead of its earnings Wednesday.
• Google parent Alphabet's latest fundraising efforts to support its AI ambitions could bode well for supplier Broadcom.

Broadcom's stock is rallying to fresh highs ahead of its latest earnings report tomorrow, with a bit of help from Google parent Alphabet.

Shares of Broadcom (AVGO) rose nearly 5% Tuesday, topping Monday's record close, amid a broader market rally as a string of better-than-expected earnings reports and signs of strong demand improved sentiment around the AI trade. Google parent Alphabet (GOOGL) said yesterday it plans to raise $80 billion to support its AI ambitions, which could also bode well for supplier Broadcom, though shares of Alphabet slid nearly 4% following the news.

Tuesday's gains leave Broadcom's stock up close to 40% since the start of the year, after rebounding from lows in late March as signs of growing business with Google helped stoke more support for the shares.

Why This Matters to Investors

The fundraising news from Google could add to recent enthusiasm for Broadcom's stock.

Back in April, Broadcom stock rallied following the announcement of an extension of its partnership with Google to co-develop the search giant's custom AI chips, and a new deal with Meta Platforms (META) to co-develop the Facebook and Instagram parent's own custom chips.

Broadcom is expected to report another quarter of big gains in sales and profits after the closing bell tomorrow, though analysts have said investors will likely be more focused on the chipmaker's outlook following its recent deals.

The stock has surged close to 90% over the last 12 months, while Alphabet has gained about 120%. Both have far outpaced the S&P 500's roughly 27% rise over the same period.

Larry Ellison's net worth has swung with AI stocks in recent years.
Credit: Justin Sullivan / Getty Images

Key Takeaways

• Larry Ellison's $302 billion makes him the world's third-richest person.
• He owns more than 40% of the company and can gain or lose tens of billions when the stock moves.

Larry Ellison's place among the world's richest people now rises and falls on the stock market's wager that the AI boom requires Oracle's machines.

Oracle (ORCL) jumped nearly 8% Monday, lifting Ellison's net worth by $21.4 billion to $302 billion and making him the world's third-richest person, according to the Bloomberg Billionaires Index. The gain carried him past Amazon.com's (AMZN) Jeff Bezos and Google cofounder Sergey Brin. (Larry Page, Brin's counterpart, sits between Oracle and top dog Elon Musk.)

It's been another fast climb for Ellison, who slipped to sixth on the Bloomberg list at about $195 billion in April, before Oracle's late-May surge reversed the slide.

Ellison owns more than 40% of Oracle, so his wealth tracks the stock almost tick for tick. Shares rose about 40% in May, before jumping again Monday to close near $248, a 2026 high.

Ellison also owns a 1.4% stake in Tesla (TSLA), a sailing team, and real estate, including the Hawaiian island of Lanai.

Oracle's most recent quarter posted revenue up 22% from a year earlier to $17.2 billion, with cloud revenue up 44% to $8.9 billion.

When Wall Street has soured on the AI trade, Ellison's fortune has fallen with it. Oracle's stock had fallen about 58% from its September high to a February low of about $136, before a late-spring rally pulled it higher again.

Musk, the world's richest person, has some separation between himself and Page, Ellison and the rest. Bloomberg estimates his net work at $721 billion.

Booming demand for AI-optimized servers fueled a record quarter for Hewlett Packard Enterprise.
Credit: Michael Nagle / Bloomberg via Getty Images

Key Takeaways

• Shares of Hewlett Packard Enterprise soared on Tuesday after AI demand boosted its quarterly results.
• HPE is one of several tech stocks—including Dell, Intel and Cisco—reliving the late 1990s, when the internet buildout and speculative fervor caused stocks to skyrocket, ultimately forming the Dotcom Bubble.

The Dotcom Bubble may not be back, but the Dotcom darlings sure are. 

Shares of Hewlett Packard Enterprise (HPE), spun-off from HP Inc. in 2015, jumped nearly 20% on Tuesday after the server marker’s quarterly results blew past estimates on strong demand from artificial intelligence data centers. HPE shares have more than doubled in value this year, and were on track Tuesday to close at a record high.

Booming demand for AI-enabling equipment has breathed fresh life into the businesses of tech firms some investors not so long ago might have dismissed as dinosaurs. Dell (DELL) on Thursday reported its earnings more than tripled last quarter on revenue that nearly doubled, driven by a more than 700% increase in AI-optimized server sales. Networking equipment maker Cisco (CSCO) in May nearly doubled its full-year AI-related orders forecast.  

Why This Is Important

The eye-popping gains of AI stocks in recent years have prompted a fair bit of hand-wringing, with skeptics drawing parallels between the AI data center boom and the internet buildout that helped fuel the Dotcom Bubble. Bulls highlight the differences between the late 1990s and today, including interest rate expectations and the fiscal discipline of AI's biggest investors.

Their stocks are rising with their revenues. Dell shares jumped 33% last Friday, and have more than tripled in value this year. Cisco stock is up 70% in 2026. Even companies for whom AI benefits remain more hope than reality, like chipmaker Intel (INTC), have caught an updraft. Intel’s stock is up nearly 200% year-to-date, lifted by a partnership with AI chip giant Nvidia (NVDA) and optimism that it can reap rewards from its position as America’s only homegrown chip manufacturer. 

Long-time investors in these companies have been here before. The buildout of internet infrastructure in the late 1990s fueled rapid growth for hardware providers such as Cisco, Intel, Dell and Hewlett-Packard. Excitement about the internet and low interest rates stoked speculative fervor, causing the Nasdaq to quintuple between 1995 and 2000 before it all came crashing down in March 2000. The Nasdaq lost nearly 80% of its value over the next two years. 

Today’s AI beneficiaries were among the few tech companies to survive the bubble, along with software giants Microsoft (MSFT) and Oracle (ORCL) and e-commerce pioneers Amazon (AMZN) and eBay (EBAY). But their investors felt the pain. Cisco shares fell almost 90% between March 2000 and October 2002. It took the stock 25 years to fully recover from its Dotcom losses. Intel declined 85% over the same period, losses it didn’t recoup until April of this year.

The recovery of Dotcom Bubble highs adds to the unsettling parallels some investors have drawn between today’s AI buildout and the internet boom. Tech giants are spending massive sums on data center infrastructure in a bet that enterprises, consumers and governments will shell out trillions of dollars on AI services in the future. Pivoting to AI is the present day equivalent of tacking “dotcom” to a company’s name in the '90s. As during the Dotcom era, buzzy tech companies are racing to cash in on piping hot demand for new listings. 

To be sure, the AI and Dotcom eras are as different as they are similar. The companies betting the house on AI are some of the most profitable, dominant companies in modern history. Corporate earnings are growing at a healthy clip despite a litany of macroeconomic headwinds, and analysts see signs of benefits accruing to both AI enablers and adopters. And unlike in the early 2000s, interest rates are likely doing more to constrain asset values than inflate them. 

Shares of Virgin Galactic have whipsawed to start the week.
Credit: Celal Gunes / Anadolu via Getty Images

Key Takeaways

• Shares of Virgin Galactic continued their wild week, plummeting on Tuesday after a big jump yesterday that extended what was a red-hot May.
• Retail investors likely drove a lot of the interest in the suborbital flight company as they looked for ways to play the space trade ahead of a SpaceX IPO.

To the moon? Perhaps not—but shares of suborbital flight company Virgin Galactic are certainly on a ride this week.

Shares of Virgin Galactic (SPCE) vaulted higher Monday, rising more than 20% to prices not seen since 2024; now they're coming back to earth, with the stock down nearly 40% Tuesday morning. Even after their leap, the shares still traded at single-digit prices—and even after a remarkable May, during which the stock rose more than 250%, the company's market capitalization remained below $1 billion. The soaring highs above $1,000 the shares commanded about half a decade ago are now distant in both temporal and market terms. They're now changing hands below $5 apiece.

Why all the excitement for Virgin? Stocks are at highs, so there's more appetite for—forgive the pun—fliers. Elon Musk's SpaceX is moving closer to an IPO, which has fired up enthusiasm in all sorts of companies and ETFs associated with the skies above. (Some of those ETFs have been as hot as, or hotter than, the hottest memory stock offerings.) And while we won't presume that the fact that Virgin's ticker symbol, SPCE, and the one SpaceX hopes to use, SPCX, aren't far off from each other, the similarity is uncanny.

Individual-investor excitement has undoubtedly helped. Daily retail inflows into the stock have popped lately, according to Vanda Research, joining a push into space stocks that was until recently more focused on companies such as Rocket Lab (RKLB) and RedWire (RDW). Short-sellers getting squeezed—in short, buying driven by people who were betting the stock would fall closing out those bets as it rose—likely fueled the runup too, according to S3 Partners.

There are other reasons investors may have turned their eyes back toward the company founded by (but not currently run by) Richard Branson. Virgin last month said its craft was back in New Mexico for test flights "designed to prepare the company’s pilots and operations teams ahead of new Spaceship operations," with commercial operations aimed at the fourth quarter. An investor late last month revealed in a filing that it owned nearly 10% of the company's common shares.

Today's drop may have been associated with news that Virgin said it would issue shares to pay down debt. But it's also likely, at least in part, gravity doing what gravity does.

HP Enterprise shares have more than doubled in value since the start of the year
Credit: CFOTO / Future Publishing / Getty Images

Key Takeaways

• HP Enterprise shares surged to a new high Tuesday after the AI server maker posted quarterly results that topped analysts' estimates.
• Several analysts raised their price targets for the stock following the report.

Hewlett Packard Enterprise's stock is hitting new highs along with its sales, thanks to booming AI demand.

Shares of HP Enterprise (HPE) popped nearly 20% to a fresh closing record just above $56 Tuesday, after the AI server maker posted better-than-expected earnings and lifted its outlook. It was the best-performing stock in the S&P 500, on a day when broader market gains lifted the index to a new high.

HP Enterprise reported adjusted earnings per share of 79 cents on a 40% year-over-year jump in revenue to a record $10.68 billion in revenue in its fiscal second quarter. Both figures topped analysts' estimates, as server sales in its cloud and AI segment jumped 32.7% to $5.5 billion.

“Traditional server orders increased triple digits, as customers continue to modernize their compute infrastructure and invest in AI inferencing,” CEO Antonio Neri told investors during the company's earnings call, according to a transcript provided by AlphaSense.

Why This Matters to Investors

The strong results from HP Enterprise could add more fuel to the stock's recent rally, as well as broader sentiment around the AI trade.

HP Enterprise's third-quarter forecasts of $11.5 billion to $12.1 billion in sales and adjusted EPS of 88 cents to 93 cents came in well above estimates. The hardware maker also raised its full-year sales forecast to 29% to 33% growth, up from 17% to 22% previously.

Several analysts hiked their price targets for the stock following the results, pointing to its strong outlook. JPMorgan and Morgan Stanley analysts lifted their price targets for the stock to $68 and $71, respectively, following the results, while UBS analysts nearly tripled their target to $65. While ratings and targets are in flux following the report, the mean of analysts polled by Visible Alpha is just above $71.

With Tuesday's gains, HP Enterprise shares have more than doubled in value since the start of the year, and tripled from the same time a year ago.

This article has been updated since it was first published to reflect more recent prices.

Economists have been concerned that the labor market was moderating at a worrisome pace.
Credit: Scott Olson / Getty Images

Key Takeaways

• The U.S. economy had more job openings in April than forecasters had expected, and the most since 2024.
• The data suggests the labor market is improving after languishing in a low-hiring, low-firing mode for the last year.
• The optimistic outlook came with a major caveat because the JOLTS data is frequently revised.

Suddenly, help-wanted ads are back.

U.S. employers had 7.6 million job openings in April, the most since March 2024, the Bureau of Labor Statistics said Tuesday. That was up from 6.9 million in March, and higher than the 6.9 million forecasters had expected according to a survey of economists at Dow Jones Newswires and The Wall Street Journal.

The new data on job openings and labor turnover added detail to the bureau's payroll report released last month, which showed unexpectedly high levels of job creation, suggesting the labor market is staying resilient through headwinds from tariffs and the Iran war.

What This Means For The Economy

An uptick in job openings is a good sign for job creation in the coming months, and points to the job market stabilizing after being dragged down by tariffs last year.

“It’s still a low-hire, low-fire job market. Workers are job clinging and not eager to leave. But there are signs of improvement," Heather Long, chief economist at Navy Federal Credit Union, wrote in a commentary.

There were a few blips in the data, which was mostly sunny for job-seekers. Employers hired 5.1 million in April, down from 5.5 million in March. And 3 million quit, down from 3.2 million in March, suggesting workers had fewer opportunities to leave their current jobs for better ones.

Figures from the Job Opening and Labor Turnover Survey are often revised significantly after the fact, so the surge of job openings could prove to be a statistical mirage.

"Job seekers now can be hopeful that the April bump in job openings will translate to more hiring, but because today’s data is subject to revision and because a job listing doesn’t always end in a job offer, they should stay sharp and prepare for a continued search," Elizabeth Renter, senior economist at NerdWallet, wrote in a commentary.

Still, there were 1.03 jobs for every unemployed person, the first time that ratio has been above 1 since June, indicating the balance of the labor market is slowly tilting back towards workers. Hiring is regaining some steam after dragging in 2025, as tariff-related uncertainty and immigration restrictions pushed down both demand and supply for labor.

Job openings and the ratio between unemployed workers and openings are one of the key data points officials at the Federal Reserve consider when setting monetary policy to pursue the central bank's dual mandate of keeping prices stable and employment high.

The increase in job openings is a signal that the job market is healthy, meaning there's less pressure on the Fed to lower interest rates to boost the economy. It even gives them more breathing room to raise rates to stifle inflation, which is rising because of the Iran war's energy crunch. Fed officials are widely expected to keep the key fed funds rate flat when the policy committee next meets later this month.

Before that meeting, the Fed will get a fresher look at the labor market on Friday, when the bureau publishes hiring and unemployment data for May.

Update, June 2, 2026—This article has been updated after publication with more detail about the JOLTS report and commentary from economists. It was first published June 2, 2026.

Nvidia CEO Jensen Huang (left) appeared alongside Marvell CEO Matt Murphy at the Computex conference in Taiwan on Tuesday
Credit: Lam Yik Fei / Bloomberg / Getty Images

Key Takeaways

• Marvell shares soared to fresh highs Tuesday after a vote of confidence from Nvidia CEO Jensen Huang.
• Huang said Marvell, which Nvidia has invested in, could be "the next trillion-dollar company" because of how important its connectivity equipment is to the way AI data centers are evolving.

Could AI chip designer Marvell Technology be the next member of the trillion-dollar market cap club?

Shares of Marvell (MRVL) added nearly a third of their value in a single session to close at a record $290.79 Tuesday, after Nvidia CEO Jensen Huang said Marvell—which Nvidia has invested in—could be "the next trillion-dollar company." Nvidia (NVDA) shares slipped close to 1%, after climbing 6% yesterday.

Huang, who appeared alongside Marvell CEO Matt Murphy at the Computex conference in Taiwan, said Marvell's networking connectivity equipment makes it "essential" for the way AI data centers are evolving.

Why This Matters to Investors

Huang's comments could help further boost investor confidence in Marvell's potential for growth, amid renewed enthusiasm for the AI trade.

Marvell's market capitalization, which climbed to around $254.60 billion, is still well off that mark, though the shares have more than tripled in value this year, as investors cheered its surging sales on strong AI demand and support from partner Nvidia.

Nvidia invested $2 billion in Marvell back in March, and expanded its partnership with the company to add Marvell's custom chips to the products it offers to customers looking to outfit their AI data centers.

With Tuesday's gains, Marvell shares have quadrupled in value over the past 12 months. Nvidia shares are up about 60% over the same period.

This article has been updated since it was first published to reflect more recent prices.