{"id":62169,"date":"2026-05-20T17:38:19","date_gmt":"2026-05-20T21:38:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-files-for-landmark-ipo-as-nvidia-smashes-earnings-expectations\/62169\/"},"modified":"2026-05-20T17:38:19","modified_gmt":"2026-05-20T21:38:19","slug":"spacex-files-for-landmark-ipo-as-nvidia-smashes-earnings-expectations","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-files-for-landmark-ipo-as-nvidia-smashes-earnings-expectations\/62169\/","title":{"rendered":"SpaceX Files for Landmark IPO as Nvidia Smashes Earnings Expectations"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>SpaceX has officially filed for an IPO<\/strong> on the <strong>NASDAQ<\/strong> under the ticker <strong><a href=\"\/stock\/SPCX\">SPCX<\/a><\/strong>, revealing a dual-class share structure that grants <strong>Elon Musk 85.1% voting power<\/strong>.<\/li>\n<li><strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> delivered a massive earnings beat with <strong>Q1 revenue of $81.62 billion<\/strong> and announced a new <strong>$80 billion share repurchase authorization<\/strong>.<\/li>\n<li>SpaceX plans to acquire <strong>Cursor<\/strong> post-IPO in a deal valued at <strong>$60.0 billion<\/strong>, while also reporting a <strong>Q1 operating loss of $1.94 billion<\/strong> on revenue of <strong>$4.69 billion<\/strong>.<\/li>\n<li><strong>Anthropic<\/strong> is projected to reach its first operating profit in the June quarter, with revenue expected to surge <strong>130% to $10.9 billion<\/strong>.<\/li>\n<li>Global markets rallied as <strong>U.S. Crude fell to $98<\/strong> following reports that the U.S. is in the &quot;final stages&quot; of a deal to end the conflict in Iran.<\/li>\n<\/ul>\n<h2>SpaceX Files for IPO and Outlines AI Ambitions<\/h2>\n<p>SpaceX has filed an <strong>S-1 registration statement<\/strong> with the SEC to list its <strong>Class A common stock<\/strong> on the <strong>NASDAQ<\/strong> and <strong>NASDAQ Texas<\/strong> under the symbol <strong><a href=\"\/stock\/SPCX\">SPCX<\/a><\/strong>. The offering features a dual-class structure where <strong>Class B shares carry 10 votes<\/strong> each, ensuring <strong>Elon Musk<\/strong> maintains a <strong>85.1% voting majority<\/strong> despite owning only 12.3% of Class A shares.<\/p>\n<p>The filing revealed that <strong>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong> holds a significant stake of <strong>18,990,195 Class A shares<\/strong> as of May 1. Following the IPO, SpaceX intends to acquire <strong>Cursor<\/strong> for an implied equity value of <strong>$60.0 billion<\/strong>, signaling a massive expansion into software and services.<\/p>\n<p>Financially, SpaceX reported <strong>Q1 revenue of $4.69 billion<\/strong>, driven largely by its <strong>Connectivity segment ($3.26 billion)<\/strong>. However, the company saw an <strong>operating loss of $1.94 billion<\/strong> as it scales its &quot;Space&quot; and &quot;AI&quot; segments. Long-term plans include deploying <strong>modular orbital AI compute shells<\/strong> and scaling to thousands of launches per year.<\/p>\n<h2>Nvidia Smashes Estimates, Boosts Shareholder Returns<\/h2>\n<p><strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> continues its dominant run, reporting <strong>Q1 revenue of $81.62 billion<\/strong>, comfortably beating the <strong>$79.19 billion<\/strong> analyst estimate. The company\u2019s <strong>Data Center revenue hit $75.2 billion<\/strong>, reflecting insatiable demand for AI infrastructure.<\/p>\n<p>In a major show of confidence, Nvidia authorized an additional <strong>$80 billion for share repurchases<\/strong> and raised its quarterly dividend to <strong>$0.25 per share<\/strong>. For the upcoming second quarter, the chipmaker guided for revenue between <strong>$89.18 billion and $92.82 billion<\/strong>, well above the consensus of $87.36 billion.<\/p>\n<p>Management noted that the next-generation <strong>Rubin platform<\/strong> is expected to start shipping in the <strong>second half of fiscal 2027<\/strong>. While supply chains remain stable, the company warned that any escalation in Middle East conflicts could impact future product development and stability.<\/p>\n<h2>AI Sector Momentum: Anthropic and Intuit<\/h2>\n<p>The broader AI sector is showing signs of rapid maturation, with <strong>Anthropic<\/strong> expecting a <strong>130% revenue surge<\/strong> to <strong>$10.9 billion<\/strong> in the June quarter. This growth is expected to result in the company&#39;s <strong>first operating profit of $559 million<\/strong>, a significant milestone for the AI startup.<\/p>\n<p>Meanwhile, <strong>Intuit (<a href=\"\/stock\/INTU\">INTU<\/a>)<\/strong> CEO Sasan Goodarzi warned of a <strong>30 basis point decline<\/strong> in total IRS filers this season, representing a post-COVID industry contraction. To counter this, the company plans to launch a <strong>new AI-driven expert platform<\/strong> in August to diversify its revenue streams.<\/p>\n<h2>Markets Rally on Geopolitical Hopes<\/h2>\n<p>Broad market indices climbed as the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> rose 1.1%<\/strong>, snapping a three-day losing streak. Investor sentiment was bolstered by reports that the <strong>Trump administration<\/strong> is nearing a deal to end the war in Iran, which sent <strong>U.S. Crude prices tumbling to $98 per barrel<\/strong>.<\/p>\n<p>In the fixed-income market, <strong>Lumen Technologies (<a href=\"\/stock\/LUMN\">LUMN<\/a>)<\/strong> announced a support agreement with noteholders to tender <strong>$456 million of Qwest notes<\/strong>. This move is part of a broader debt restructuring effort as the company navigates a shifting telecommunications landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways SpaceX has officially filed for an IPO on the NASDAQ under the ticker SPCX, revealing a dual-class share 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