Analysis

TradingKey - SpaceX, the rocket and AI company owned by the world’s richest man Elon Musk, is set to launch the largest IPO in history. The company plans to issue approximately 556 million new shares at a price of $135 per share, seeking to raise about $75 billion, which would value the company at approximately $1.75 trillion. If the transaction is completed as planned, it will surpass the record set by Saudi Aramco in 2019 to become the largest IPO in global history.

Is this 9-day rally a stock market crash signal or will the upcoming SpaceX IPO drive further gains? Discover why Deutsche Bank is warning investors.

TradingKey - On Tuesday, June 2 (ET), Microsoft's (MSFT) annual developer conference, Build, commenced at the Fort Mason Center in San Francisco. This marks the first time since 2016 that the event has moved away from its Seattle home base. While the conference scale was streamlined to approximately 2,500 attendees, the signals released were disruptive—Microsoft is attempting to redefine Windows from an operating system for human users into a native runtime environment for AI agents, propelling artificial intelligence from the stage of "assisting human work" toward a new era of "executing tasks on behalf of humans."

TradingKey — As the countdown to the SpaceX IPO officially begins, the first dissenting voice has emerged on Wall Street. In June 2026, Morningstar, a leading global rating agency, initiated research coverage on SpaceX, assigning a fair value estimate of $780 billion—less than half of the company’s target IPO valuation range of $1.75 trillion to $1.8 trillion.

TradingKey — On June 2, Eastern Time, the cryptocurrency market suffered its most severe mass liquidation year-to-date. Bitcoin (BTC) breached the $70,000 psychological threshold for the first time since April 2026, plunging through the $69,000, $68,000, $67,000, and $66,000 marks to hit an intraday low of $65,978. This represents a decline of more than 14% from the high of $77,799 reached just two trading days ago.

TradingKey - According to the Wall Street Journal, citing people familiar with the matter, SpaceX will submit an updated prospectus as early as Wednesday, disclosing its target price range for the first time. SpaceX is negotiating with its IPO underwriters to lower the underwriting fee to below 0.75

TradingKey - On June 2nd, Eastern Time, the COMPUTEX conference boosted AI sentiment, leading to a rally in US tech stocks. All three major indices hit new closing highs: the Dow Jones Industrial Average rose 0.45% to 51,307.79 points, the S&P 500 rose 0.13% to 7,609.78 points, and the Nasdaq Compos

TradingKey - On June 2 (ET), the COMPUTEX event in Taipei fueled market sentiment for artificial intelligence investments, as US tech stocks extended their recent rally and all three major US indices reached record closing highs. By the close, the Dow Jones Industrial Average rose 0.45% to 51,307.79 points; the S&P 500 Index edged up 0.13% to 7,609.78 points; and the Nasdaq Composite Index added 0.03% to 27,093.9 points.

TradingKey - SpaceX plans to list on Nasdaq on June 12, with less than two weeks remaining before the debut of what is set to be the largest IPO in history. According to recent media reports, SpaceX could be included in the Nasdaq 100 Index as early as July. With a fundraising cap of $75 billion, its market capitalization post-listing may surpass that of Tesla. Supported by the high-growth sectors of AI and aerospace, SpaceX was initially expected to achieve an ultra-high market valuation. However, valuation targets were lowered following the disclosure of its prospectus. When SpaceX filed for a confidential IPO in early April, market valuations reached as high as $2 trillion. Following the prospectus disclosure, latest reports indicate the company's current target valuation has been revised down to $1.8 trillion, a $200 billion reduction from the $2 trillion valuation previously reported by Bloomberg.

TradingKey - Since investors are extremely interested in the coming SpaceX IPO on June 12th, the number of allocations will be very limited. Individual investors usually have trouble buying an IPO directly, and the trading can be quite volatile after the IPO. A less-congested, less-prominent alterna

TradingKey - On June 2, Marvell Technology (MRVL) shares hit a high of $277.22, marking a new all-time high. As of press time, the stock was up 23.65% at $271.33. During a speech at Computex Taipei, Marvell Chairman and CEO Matt Murphy stated that the development of AI infrastructure is following a clear evolutionary path where "bottlenecks emerge and are resolved sequentially." The first stage was the computing power bottleneck, led by NVIDIA, which became the first company in the world to surpass a $5 trillion market capitalization. The second stage was the memory bottleneck, which recently saw the emergence of three new trillion-dollar market cap companies in the memory sector. The industry is currently in the third stage, where connectivity has become the core bottleneck restricting the further scaling of AI infrastructure.

TradingKey - On June 1, Eastern Time, driven by tight demand for memory chips, Micron (MU) shares successfully broke through the $1,000 psychological level. By the close of U.S. trading, Micron’s share price stood at $1,035.68, with its market capitalization rising to approximately $1.18 trillion.

TradingKey — Cloud cybersecurity leader CrowdStrike (CRWD) is scheduled to release its first-quarter fiscal 2027 earnings report after the market close on June 3, ET. Over the past month, the company’s share price has surged by a cumulative 67% as market sentiment heated up significantly, pushing investor expectations for the upcoming report to high levels.

TradingKey - Microsoft Q3 FY2026: $61.9B revenue +13%, Azure +31%, 80%+ of Fortune 500 using Azure AI. $190B 2026 capex commitment. MSFT at $452, Fib 0.618 cleared. Build 2026 today. Target $472.

MicroStrategy and Bitcoin are experiencing a downward spiral; the key to a short-term floor lies in the upcoming release of U.S. ADP and non-farm payroll data.

TradingKey — US stock index futures edged lower in pre-market trading on Tuesday, June 2. Yesterday, US stocks hit fresh record highs as AI themes continued to dominate market sentiment. However, investors remained cautious ahead of this Friday’s non-farm payroll report, while monitoring the impact of Middle East tensions on oil prices and inflation expectations. As of press time, Dow futures were down approximately 0.46%, S&P 500 futures fell about 0.18%, and Nasdaq 100 futures declined roughly 0.1%.

TradingKey - Snowflake stock surged to $280 after a 52% rally in five trading days. Can AI-driven growth and the Snowflake Marketplace push SNOW toward $317?

TradingKey - Google parent Alphabet (GOOGL) announced on Monday the launch of an equity financing plan totaling up to $80 billion, aimed at providing capital for its ambitious AI infrastructure expansion.

TradingKey — On June 1, Eastern Time, Alphabet, the parent company of Google, announced plans for an equity financing program of up to $80 billion to expand its artificial intelligence computing infrastructure. Berkshire Hathaway will subscribe to $10 billion of the shares through a private placement.

TradingKey - Anthropic announced on Monday that it has confidentially filed for a U.S. IPO, taking the lead over rival OpenAI in the race to go public. According to Reuters, Anthropic’s listing could occur as early as this autumn. Following Anthropic’s filing announcement, the competition between the two has become increasingly concrete: whoever can go public first and seize a favorable market window will be more likely to win the race.