Silent kingmakers: Market index providers are driving public investors into SpaceX and Big AI
This may sustain demand for AI hardware powering the best performing Asian markets, and perhaps lift some of the worst laggards too
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[SINGAPORE] There was no apparent shortage of investors eager to pile into SpaceX last week.
The space economy cum artificial intelligence company’s US$75 billion initial public offering was reportedly more than four times subscribed. Its shares ended their first trading session on Friday (Jun 12) at US$160.95 – more than 19.2 per cent above its IPO price of US$135 per share.
With a market capitalisation of US$2.1 trillion, it will probably not be long before SpaceX also finds its way into the portfolios of many investors who are not particularly interested in owning it.
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