The AI IPO race is heating up.

In this episode of the Market Maker Podcast, we break down the latest developments surrounding the SpaceX IPO and OpenAI’s confidential S1 filing to the SEC.

We discuss Goldman Sachs’ huge growth forecasts for SpaceX, the surge in retail investor demand, and why Elon Musk may be positioning SpaceX as one of the biggest AI infrastructure plays in the world.

We also dive into OpenAI’s reported internal tensions ahead of its IPO process, including concerns around governance, leadership and whether the company is truly ready to go public.

If you're interested in AI, investing, IPOs, venture capital or the future of technology companies, this episode gives you a practical breakdown of what’s happening behind the headlines.

(00:00) Intro

(01:03) SpaceX IPO Update

(08:39) Bankers Selling the Vision

(10:35) Retail Demand & Hype

(14:20) OpenAI Files for IPO

(18:57) OpenAI’s Internal Issues

(22:59) Why CEO/CFO Tension Matters

(24:57) Goldman & Morgan Stanley