Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a>, an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.</li>
<li>SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.</li>
<li>We looked at its Space and Connectivity segments in our previous note. In this note, we talk about its AI Segment.</li>
</ul>



SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.
SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.
We looked at its Space and Connectivity segments in our previous note. In this note, we talk about its AI Segment.


Aequitas: SpaceX IPO - AI - The Next Frontier, but a Cash Guzzler and MAU Laggard

<ul>
<li>
<a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a>, an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.</li>
<li>SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.</li>
<li>We looked at its Space segment in the previous note. In this note, we talk about its connectivity segment.</li>
</ul>



SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.
SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.
We looked at its Space segment in the previous note. In this note, we talk about its connectivity segment.


Aequitas: SpaceX IPO - Connectivity - The Growth Driver and Cash Generator

Get Ahead with IPO Insights, IPO Prophet

IPO Prophet

Get Ahead with IPO Insights

At IPO Prophet®, our team leverages over three decades of expertise to deliver actionable quantitative analytics for the IPO market in real-time. This platform synthesizes our extensive experience investing in IPOs, providing investors with revolutionary tools to navigate the complexities of issuance day. Our mission is to empower investors with data-driven insights to make more informed decisions.

Equity Bottom-Up

<ul><li>For years, investors anticipated the IPO filing of SpaceX largely through the lens of rockets, satellites, and the long-term commercialization of space.</li><li>But now that the filing has finally arrived, one thing is becoming increasingly clear: Public investors may not actually be buying a traditional space company at all.</li><li>They may be buying one of the largest artificial intelligence infrastructure funding vehicles ever brought public.</li></ul>

For years, investors anticipated the IPO filing of SpaceX largely through the lens of rockets, satellites, and the long-term commercialization of space.But now that the filing has finally arrived, one thing is becoming increasingly clear: Public investors may not actually be buying a traditional space company at all.They may be buying one of the largest artificial intelligence infrastructure funding vehicles ever brought public.

SpaceX IPO Filing Reveals Investors May Be Buying an AI Infrastructure Empire

US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

<ul>
<li>SpaceX filed one of the most anticipated IPOs ever, combining dominant space launch, global connectivity, and rapidly scaling AI infrastructure assets.</li>
<li>Starlink drives profitability and cash flow, while aggressive investments in Starship and AI position SpaceX for massive long-term market expansion.</li>
<li>SpaceX’s vertically integrated ecosystem spanning rockets, satellites, AI compute, Grok, and X creates a differentiated platform targeting a claimed $28.5 trillion TAM.</li>
</ul>


SpaceX filed one of the most anticipated IPOs ever, combining dominant space launch, global connectivity, and rapidly scaling AI infrastructure assets.
Starlink drives profitability and cash flow, while aggressive investments in Starship and AI position SpaceX for massive long-term market expansion.
SpaceX’s vertically integrated ecosystem spanning rockets, satellites, AI compute, Grok, and X creates a differentiated platform targeting a claimed $28.5 trillion TAM.


SpaceX (SPCX US): Peeking at the IPO Prospectus of a High Profile Space Infrastructure Company

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>SpaceX (SPCX US) finally provided the IPO prospectus. The company is seeking to raise up to $75 billion in this IPO at a valuation of about $1.75 trillion.</li>
<li>One of the major highlights of the prospectus was SpaceX's ambitious ambitious roadmap to build data centers in space.</li>
<li>At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate the orbital data center business. </li>
</ul>


SpaceX (SPCX US) finally provided the IPO prospectus. The company is seeking to raise up to $75 billion in this IPO at a valuation of about $1.75 trillion.
One of the major highlights of the prospectus was SpaceX's ambitious ambitious roadmap to build data centers in space.
At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate the orbital data center business. 


United States

Space Exploration Technologies Corp., doing business as SpaceX, operates as an aerospace manufacturer and space transportation services company. The Company designs and manufactures rockets, human spaceflight, and global satellite internet services. SpaceX serves customers worldwide.

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SpaceX (SPCX US)

Aequitas: SpaceX IPO - AI - The Next Frontier, but a Cash Guzzler and MAU Laggard

SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. In this note, we talk about its AI segment.

Sumeet Singh

Aequitas: SpaceX IPO - Connectivity - The Growth Driver and Cash Generator

SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. In this note, we talk about its connectivity...

Sumeet Singh

SpaceX IPO Filing Reveals Investors May Be Buying an AI Infrastructure Empire

For years, investors anticipated the IPO filing of SpaceX largely through the lens of rockets, satellites, and the long-term commercialization of...

IPO Prophet

SpaceX (SPCX US): Peeking at the IPO Prospectus of a High Profile Space Infrastructure Company

SpaceX's highly anticipated IPO combines space launch, global connectivity, and AI assets, driving profitability and positioning the company for...

IPO Boutique

SpaceX IPO Preview

At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: SpaceX IPO - AI - The Next Frontier, but a Cash Guzzler and MAU Laggard

SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. In this note, we talk about its AI segment.

Sumeet Singh

Aequitas: SpaceX IPO - Connectivity - The Growth Driver and Cash Generator

SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. In this note, we talk about its connectivity...

Sumeet Singh

SpaceX IPO Filing Reveals Investors May Be Buying an AI Infrastructure Empire

For years, investors anticipated the IPO filing of SpaceX largely through the lens of rockets, satellites, and the long-term commercialization of...

IPO Prophet

SpaceX (SPCX US): Peeking at the IPO Prospectus of a High Profile Space Infrastructure Company

​SpaceX's highly anticipated IPO combines space launch, global connectivity, and AI assets, driving profitability and positioning the company for...

IPO Boutique

SpaceX IPO Preview

At the core of the argument behind valuation of $1.75 trillion+ is whether enough investors believe in the story of SpaceX being able to dominate...

Douglas Kim

SpaceX's highly anticipated IPO combines space launch, global connectivity, and AI assets, driving profitability and positioning the company for...