TechCheck SpaceX and the 2026 IPO pipeline, Plus Nvidia China headwinds 12/15/25
Dec 15, 2025
SpaceX is eyeing a public offering that could hit an $800 billion valuation, potentially shaking up the 2026 IPO market. Experts weigh in on how this could influence the liquidity landscape and draw more listings without draining capital. Meanwhile, Nvidia faces challenges in China, as local demand for AI chips rises amidst manufacturing constraints at TSMC. Discussions highlight China's push for domestic AI solutions and the uncertain future of Nvidia's market presence there.
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SpaceX Could Reset The IPO Market
- A SpaceX IPO would be a major liquidity event that could catalyze more AI-related public listings.
- Public access to financials from big private AI firms would change the narrative around AI investment, says Deirdre Bosa.
VC Capital Wouldn't Be Drained
- Venture capital still has capital available and wouldn't be drained by a SpaceX listing, per a VC source.
- A 2026 SpaceX IPO could act as a catalyst rather than a constraint for more exits and IPO activity.
Financials Would Clarify AI Valuations
- Public listings of large private AI players would give investors visibility into the 'demand side' of AI, altering valuation narratives.
- Notable Capital's Jeff Richards says access to financials from firms like Databricks and Anthropic would change the AI story.