Global IPO Market Shake-Up: OpenAI, SpaceX, and SK Hynix Listing Moves

M&A/IPO | Sun Jun 28 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 6 sources

AI, defense, and semiconductor companies are pursuing large-scale IPOs while SpaceX shows significant post-listing volatility.

Analysis

[OpenAI] held no pre-IPO investor meetings and signaled potential 2027 listing ^[4]

• Filed confidential prospectus with the SEC this month
• Has not yet held pre-IPO meetings to test price and demand
• New York Times reports 2027 IPO is likely
• Sam Altman emphasized focus on technology and business competition over listing timing

[SpaceX] experienced extreme volatility in first two weeks after listing ^[5]

• Surged more than 60% initially from IPO price of $135
• Briefly surpassed market caps of Amazon and Microsoft
• Subsequently plunged 16% with large daily swings
• Retail investors recorded $405M in net purchases over 5 trading days
• Morningstar valued it at half of the $1.75T target market cap

[SK Hynix] prepared US listing at $166 per share ^[6]

• HSBC valued the fair price 20% higher than the offering price

[Israel Aerospace Industries and Rafael] considered US IPO for Israeli state-owned defense firms ^[2]

• Targeting Israel Aerospace Industries and Rafael Advanced Defense Systems
• Aimed at avoiding strict disclosure obligations in the local market
• Potential multi-billion dollar listing

[Pimco] aggressively expanded in the private placement market ^[3]

• Capitalizing on the blurring boundaries between public and private markets
• Strengthening outreach to borrowers in need of cash
• Bond management giant expanding influence in private capital markets

[OpenAI India] hired former Uber executive Prabhjeet Singh as India head ^[1]

• Recruited former president of Uber India and South Asia
• Appointed as Managing Director for India
• Expanding investment in one of its fastest-growing markets

Sources

• [1] OpenAI Hires Uber’s Prabhjeet Singh to Lead India Operations - Bloomberg Markets
• [2] Israel Weighs US IPO for Major State-Owned Defense Firms - Bloomberg Markets
• [3] Bond giant Pimco flexes muscles with private placements push - Financial Times
• [4] OpenAI hasn't held pre-IPO investor meetings or set timeline yet, sources say - CNBC World Markets
• [5] 'The cult of Elon': SpaceX investors grapple with volatility amid big swings - CNBC World Markets
• [6] SK Hynix prepares U.S. listing at $166 per share — here's why HSBC says it could be worth 20% more - CNBC World Markets