SPACEX - SpaceX (pre-IPO)

Despite being fundamentally overvalued at $135 (host's fair value ~$42), the host believes unprecedented demand, forced index fund buying, and limited supply will drive the price higher in the short term. He views it as a momentum trade, not a value investment.

Felix explicitly advises against buying IPOs, stating he never buys them. SpaceX is listing June 12 at $1.7 trillion valuation (60x revenue). He questions why founders and early investors are selling to retail investors now, suggesting it marks the top.

Would like access to SpaceX especially with SpaceX/Tesla merger potential. Never bet against Elon. But doesn't want to rush in and pay $1.75T premium for a company growing 30%. Waiting for market to lose faith and create cheaper entry point. Concerned about egregious Anthropic deal that may be juicing IPO numbers.

Tanner is very critical of the $2.3T IPO valuation. Argues financials don't justify the premium, growth is only ~33-35% vs Nebius at 600%, and there are much cheaper data center alternatives (Coreweave, Nebius, AWS, Azure). Calls the Anthropic deal a weak bull case. Says selling SoFi to buy SpaceX is 'the definition of how you get caught as a retail investor.'

Potential for volatility after IPO, but no definitive prediction on performance.

SpaceX is not yet publicly traded, but the host discusses its potential $1.75 trillion IPO valuation and the massive market impact it could have. He highlights Starlink, AI infrastructure, and Elon Musk's vision as key value drivers.

2 Chainz invested very early in SpaceX and highlights it as one of his best investments. He notes the company is already valued at $1 trillion and could reach $1.5 trillion with the XAI merger. He compares his early entry to getting in early on Bitcoin.