SpaceX Prepares for IPO, US Stocks May See Fund Rotation

(Central News Agency, correspondent Liao Hanyuan, New York, 9th) Space transportation and AI company SpaceX will be listed on the New York Nasdaq exchange on the 12th. The market expects institutional investors, funds, and retail investors to rebalance their portfolios, leading to a shift in funds. Semiconductor stocks, the first to be affected, continued to fluctuate in trading on the 9th, with price swings resembling a roller coaster.

US semiconductor stocks experienced significant volatility on the 9th. After a sharp rise the previous day, Micron fell as much as 14% during the session before buying emerged in the afternoon, closing down 1.41% at $935.89. Micron is set to report earnings in two weeks, and the market is watching whether the world's third-largest memory chip giant will see price increases and earnings growth driven by AI demand, as analysts expect.

Cloud computing chip and architecture design giant Marvell Technology fell nearly 19% during the session before paring losses to close down 7.61% at $266.88. AMD fell about 13% during the session before closing down 3.02% at $475.50.

Nvidia and Broadcom showed similar trends, falling around midday before buying emerged, closing slightly lower by 0.22% and 1.12%, respectively.

The Dow Jones Industrial Average edged up 0.17%, while the S&P 500 and Nasdaq fell 0.26% and 0.97%, respectively. The Philadelphia Semiconductor Index fell 1.93%.

The market expects that investors may adjust their portfolios and shift funds in response to the SpaceX listing on the 12th, causing continued volatility in semiconductor stocks. This wave of AI startup IPOs may extend into the fall, leading to a continued reallocation of funds in tech stocks, with potential spillover effects to other sectors.

CNBC, citing sources, reported that SpaceX plans to stop accepting new share subscriptions on the 10th, one day earlier than originally planned. Another source said SpaceX and multiple underwriting banks and brokerages are expected to confirm a record-breaking allocation of new shares by the 11th, with the underwriting process typically occurring between pricing and the start of trading.

SpaceX is priced at $135 per share, aiming to raise over $75 billion, offering approximately 555 million new shares to the market. (Editor: Tian Ruihua) 1150610