Reddit Is Going Absolutely Feral Over SpaceX's $2 Trillion IPO — And UFO Is Along for the Ride

Wall Street Bets has been unusually coherent lately, and that's either a great sign or a terrifying one. The hive mind has zeroed in on $UFO — the Procure Space ETF — which popped 5.7% in a single session as SpaceX IPO fever hit critical mass. Individual space names are going full Icarus: Momentus +109%, Redwire +26%, Firefly Aerospace +18.8%. WSB's position: if you can't buy SpaceX yet, buy everything near it.

Jim Cramer broke down SpaceX's prospectus on CNBC — a $2 trillion valuation for a currently money-losing company citing a $28.5 trillion TAM. That's the kind of number that makes Reddit's options traders drool and serious investors quietly check their blood pressure. Meanwhile, David Rubenstein is flagging a generational IPO wave: OpenAI, SpaceX, and Anthropic all expected to debut at sky-high valuations. The DD posts are multiplying like they're on a stimulus check.

High-upvote threads are also buzzing on Anthropic specifically — it just committed $1.25 billion per month to SpaceX for NVIDIA-powered compute through 2029, which is either the most expensive cloud bill in history or the clearest signal yet that AI infrastructure spending has completely left the atmosphere.