What looks like a simple streaming bet is actually a $22 billion corporate reshuffle with board and regulatory gravity.

The IPO lands on Nasdaq as critics question Musk’s near-absolute ownership, and the filings force boards to look hard.

A $30 billion implied arrangement reshapes who supplies AI muscle, and how tech boards think about capacity and concentration.

A fixed $135 IPO roadshow price would put SpaceX at $1.75 trillion, a milestone that reshuffles how founders, boards, and public-market investors compare private and listed giants.

AI infrastructure stocks tumble in double digits, forcing boards to reassess risk, pricing, and dependency on a single compute cycle.