00:00Let's talk about SpaceX already shattering records ahead of a historic IPO lining up over a quarter trillion dollars in
00:07investor demand as its market debut fast approaches. Bloomberg's Ed Ludlow joins us now for more. Ed what do we
00:13know ahead of this one. Yeah the state of play is that it is many multiple times oversubscribed. There's actually
00:18something happening in the background which is there is a road show and the book will close for institutional investors
00:24at 4 p.m. Eastern time this evening. What we know is that the allocations are going to very
00:29heavily favor long only asset managers and that there are several institutional entities that have submitted orders for 10 billion
00:37dollars worth of shares. By the way if you are one of those institutions and you have submitted an order
00:42and please telephone me and tell me what's going on. But this is interesting because SpaceX kind of pre priced
00:51its IPO at 135 dollars ahead of the road show. There wasn't some sort of traditional range.
00:56And the question as it relates to the rest of the year when we have an anthropic and potentially also
01:03an open AI IPO is what is the story that's being told by the bankers and SpaceX to potential investors
01:09in the interim. Yes they're oversubscribed which would justify the initial valuation.
01:14And our reporting suggests that actually there's a big focus on this data center in space story. SpaceX telling the
01:20pool that basically whatever was in the prospectus they could start doing orbital tests sooner. Maybe 2027 maybe 2028. So
01:28there's a lot to happen in the next 48 hours mechanically.
01:31But one thing I think is really important for the surveillance audience is take a look at the rest of
01:36the month of June. There will be a big you know passive issue with the rapid inclusion into the Nasdaq
01:41Russell 1000. But also like there's a lot that can drive volatility and as a catalyst in this market. So
01:47buckle in John.
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