Mega I.P.O. Frenzy Could Be a Harbinger of a Stock Bubble

Amazing things are happening in technology, and ordinary investors are being invited to get a piece of the action.

With the SpaceX market debut on Friday, the Anthropic and OpenAI initial public offerings in the pipeline, and the sizzling tech stocks already on the market, there’s no shortage of betting opportunities.

Elon Musk ignited a frenzy with his roadshow for SpaceX, promising a future of interstellar riches from artificial intelligence combining spaceflight, satellites and orbiting A.I. data centers. I watched his presentation at JPMorgan and was entranced.

Who am I to say that cheap, virtually limitless A.I. generated from Earth’s orbit won’t happen just as Mr. Musk says it will? Intellectually, I’m willing to contemplate the possibility that he is truly leading the world to a vibrant future, on this planet, on the moon and eventually on Mars.

Article source: https://www.nytimes.com/2026/06/13/business/spacex-ipo-musk-stock-bubble.html