I joined ABC Weekend Breakfast to discuss the record-breaking SpaceX Initial Public Offering (IPO), which briefly pushed Elon Musk’s wealth beyond US$1 trillion and valued the company at more than US$2 trillion. We explored what drove the strong debut, why much of SpaceX’s revenue now comes from its AI and data centre businesses rather than its space operations, and how NASDAQ’s decision to fast-track the stock into its index could force ETFs and index funds to buy shares. We also discussed the potential impact of insider selling in the months ahead and what the IPO could mean for everyday investors.