{"url":"https://www.economist.com/business/2026/03/29/the-plan-to-make-ipos-great-again","title":"Regulators, Nasdaq team to revive US IPOs with SpaceX leading","domain":"economist.com","imageUrl":"https://images.pexels.com/photos/586093/pexels-photo-586093.jpeg?auto=compress&cs=tinysrgb&h=650&w=940","category":"Tech","language":"en","slug":"d00497b9","id":"d00497b9-cfed-44b5-b2b6-1f586fbd17bc","description":"America’s regulators and market operators team up to boost public listings amid declining IPOs.","summary":"## TL;DR\n- **America’s regulators and market operators** team up to boost public listings amid declining IPOs.\n- **SpaceX** plans **$75bn** IPO at **$1.75trn** valuation, twice **Saudi Aramco**'s 2019 record.\n- **Nasdaq** cuts index inclusion wait to **15 days**, aiding mega-IPOs like **OpenAI** and **Anthropic**.[[1]](https://www.economist.com/business/2026/03/29/the-plan-to-make-ipos-great-again)[[2]](https://seekingalpha.com/news/4570570-nasdaq-slashes-waiting-period-for-ipos-in-major-index-overhaul)\n\n## The story at a glance\n**America’s regulators and Nasdaq** propose rules to ease IPO burdens and speed index inclusion for new listings. **Elon Musk**'s **SpaceX**, post-merger with **xAI**, eyes the largest-ever IPO this year, joined potentially by **OpenAI** and **Anthropic**. The push counters firms' aversion to public markets, as voiced by **Musk** in 2013.[[1]](https://www.economist.com/business/2026/03/29/the-plan-to-make-ipos-great-again)[[3]](https://www.economist.com/business/2026/03/12/altman-amodei-and-musk-fight-dirty-for-the-biggest-prize-in-business)\n\nPublic listings have halved since 1997 to about **4,700** exchange-listed firms.[[4]](https://corpgov.law.harvard.edu/2025/10/11/keynote-address-by-chair-atkins-on-revitalizing-public-company-appeal)\n\n## Key moments & milestones\n- **2013**: **Elon Musk** warns **SpaceX** employees against going public until \"**Mars is secure**.\"[[1]](https://www.economist.com/business/2026/03/29/the-plan-to-make-ipos-great-again)\n- **Feb 2026**: **SpaceX** merges with **xAI** at **$1.25trn** valuation.[[5]](https://www.economist.com/business/2026/02/03/elon-musks-mega-merger-makes-little-business-sense)\n- **Mar 2026**: **Nasdaq** consults on shortening **Nasdaq-100** index entry to **15 trading days** for large IPOs.[[6]](https://www.bloomberg.com/news/articles/2026-03-30/nasdaq-clears-way-for-spacex-big-ipos-to-gain-fast-index-entry)\n- **Mar 29, 2026**: Article highlights **SpaceX** targeting **$75bn** raise at **$1.75trn**.[[1]](https://www.economist.com/business/2026/03/29/the-plan-to-make-ipos-great-again)\n- **Mar 30, 2026**: **Nasdaq** confirms rule effective **May 1**.[[6]](https://www.bloomberg.com/news/articles/2026-03-30/nasdaq-clears-way-for-spacex-big-ipos-to-gain-fast-index-entry)\n\n## Signature highlights\n- **SEC Chair Paul Atkins** prioritises \"making IPOs great again\" via scaled disclosures, litigation reform, and governance tweaks to cut public company costs.[[4]](https://corpgov.law.harvard.edu/2025/10/11/keynote-address-by-chair-atkins-on-revitalizing-public-company-appeal)\n- **Nasdaq** drops **3-month** minimum and **10% float** rules for top-cap IPOs, enabling **15-day** **Nasdaq-100** entry to reflect mature listings faster.[[2]](https://seekingalpha.com/news/4570570-nasdaq-slashes-waiting-period-for-ipos-in-major-index-overhaul)\n- Three AI mega-IPOs—**SpaceX** (**$1.75trn**), **OpenAI**, **Anthropic**—could spread **AI wealth** but crowd smaller listings.[[7]](https://www.facebook.com/TheEconomist/posts/three-mega-listings-will-gladden-those-who-want-to-see-the-wealth-generated-by-a/1440784491413400)\n- Public companies fell from **7,800** in **2007** due to regulations, litigation, private funding ease.[[4]](https://corpgov.law.harvard.edu/2025/10/11/keynote-address-by-chair-atkins-on-revitalizing-public-company-appeal)\n\n## Key quotes\n> \"Anybody who has **‘not been through a public-company experience** may think that being public is desirable. **This is not so**.” — **Elon Musk** to **SpaceX** employees, **2013**.[[1]](https://www.economist.com/business/2026/03/29/the-plan-to-make-ipos-great-again)\n\n## Why it matters\nReviving IPOs counters private markets' dominance, where **800+ unicorns** hoard capital from public investors. It lowers going-public costs for firms and expands stock access for retail and index funds. Watch **SpaceX**, **OpenAI**, **Anthropic** debuts and post-IPO performance to gauge public vs private power shift.[[8]](https://www.threads.com/@theeconomist/post/DWeTRUXlPlJ/the-coming-months-will-serve-as-a-test-of-the-balance-of-power-between-public)","hashtags":["#ipos","#spacex","#nasdaq","#finance","#ai","#markets"],"viewCount":2,"publishedAt":"2026-04-04T20:42:37.516Z"}