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This week brings a mix of giant market moves and investor nerves. SpaceX is reportedly preparing for what could become the largest IPO ever, Bitcoin is testing key support levels, and the AI bubble debate is still keeping investors on edge. Meanwhile, Nvidia’s latest earnings are giving markets another reason to pay attention.
The Weekly Fun Fact 🤔
SpaceX is reportedly moving faster than expected toward a Nasdaq debut, with June 12 now being targeted as its first trading day. The company is expected to price shares one day earlier, on June 11, under the ticker SPCX. If the numbers hold, this could become the largest IPO ever, with a possible $75 billion raise and a valuation of up to $1.75 trillion.
That would put SpaceX in a very rare category. Saudi Aramco currently holds the IPO record after raising $29 billion in 2019, but SpaceX’s planned offering could be more than twice that size. The company’s position is unusual too: it dominates rocket launches, runs Starlink, works with NASA and the Defense Department, and could soon become one of the most valuable public companies in the world.
Nasdaq also adds an interesting twist. Its new “fast entry” rule could allow a company of SpaceX’s size to enter the Nasdaq-100 after only 15 trading sessions. That means index-tracking funds may need to buy shares shortly after the debut, creating early demand from funds that follow the index.
If this IPO happens as reported, it would not just be a listing, it would be one of the biggest financial events of the year.
Onto this week’s topics🚦
🔴 Bitcoin faces another support test 📉
Bitcoin is trading around $77,000, but the market is not moving with much confidence. After failing to break through the bull market support band near $80,000, traders are watching whether Bitcoin can hold above $75,000. If that level breaks, some expect the next stop could be closer to $70,000.
The strange part is that traditional markets are doing better. The S&P 500 is showing strength, macro data still looks solid, and some investors expect a strong summer for equities. Yet crypto is struggling to follow. Weak spot volume, which means there is not much fresh buying pressure even when bullish headlines appear.
Michael Saylor’s latest $2 billion Bitcoin buy added some support to the market, but it has not been enough to spark a broader crypto rally. This raises the main question investors are asking: if stocks are rising, liquidity is improving, and large buyers are still active, why is crypto not moving with the same energy?
Bitcoin is not in crisis, but it is at an important level where a small move could change the mood quickly.
🟡 Is AI a bubble or just early? 📊
Investors are still stuck between two uncomfortable possibilities. If AI is not a bubble and they avoid the sector, they risk missing one of the biggest market themes of the decade. If AI is a bubble and they buy near the top, they risk heavy losses when the market turns.
That is what makes this debate so difficult. AI-related stocks, especially semiconductors, have already performed far better than the broader market. The move has been so strong that it naturally makes investors nervous. Whenever one sector rises too quickly, people start looking for signs of excess.
But not every fast-moving market is a bubble. Gavin Baker recently compared this moment to the mid-1990s, when many investors thought technology stocks had already gone too far, only to watch the internet cycle keep expanding. The real problem: history says powerful new technologies often create bubbles, but selling too early can be just as painful as buying too late.
There is also a supply and demand problem. Demand for better AI models, chips, data centers, and infrastructure still appears very strong. The best models are not even widely available to the general public yet, and companies continue spending heavily to build capacity.
The AI trade may be expensive, but expensive does not always mean finished.
🟢 Nvidia keeps giving markets a reason to believe 🚀
Nvidia once again delivered the kind of earnings report that makes the whole market pay attention. The company reported strong Q1 FY2027 results, driven by demand for AI infrastructure, and gave Q2 revenue guidance of around $91 billion, above expectations.
The company also announced an additional $80 billion share buyback and raised its quarterly dividend from $0.01 to $0.25 per share. That dividend increase is small compared with the stock’s overall story, but it sends a clear signal: Nvidia is not only growing quickly, it is also starting to return more capital to shareholders.
This is why Nvidia has become more than just a chip company in investors’ minds. Nvidia is a macro force, and that does not feel too far off. Its earnings now influence sentiment across tech, the S&P 500, and the broader AI trade.
The key question is whether Nvidia can keep meeting expectations as they keep rising. For now, demand remains strong, guidance is still ahead of forecasts, and investors continue treating Nvidia as the main proof that the AI buildout is still alive.
As long as Nvidia keeps delivering, the market will find it harder to walk away from the AI story.
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