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Mega-IPOs like SpaceX and OpenAI may disrupt tech stocks despite S&P 500 reaching near 7,600.

Market News
29 May 2026
Seeking Alpha
View Source
Neutral
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The S&P 500 is nearing 7,600, but upcoming mega-IPOs such as SpaceX, targeting a $1.75–$2 trillion valuation, and OpenAI, aiming for about $1 trillion, could temporarily disrupt momentum in tech stocks. SpaceX plans the largest IPO in history, debuting June 12, with OpenAI and possibly Anthropic following later in 2026. This frenzy might pull investment away from existing tech sectors, especially semiconductors. The author holds a cautious cash position after selling some tech calls and is wary of these IPOs as an investment option currently.

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