# Morgan Brennan: SpaceX’s IPO could be the largest in history, the total addressable market is projected at $28.5 trillion, and space manufacturing will revolutionize healthcare | The Pomp Podcast > Source: > Published: 2026-05-30 01:37:46+00:00 # Morgan Brennan: SpaceX’s IPO could be the largest in history, the total addressable market is projected at $28.5 trillion, and space manufacturing will revolutionize healthcare | The Pomp Podcast SpaceX's upcoming IPO could redefine financial markets with its unprecedented scale and transformative potential. ## Key takeaways - SpaceX’s IPO is anticipated to be the largest in history, marking a significant event in the financial markets. - Investing in SpaceX is likened to investing in Tesla, suggesting high potential returns. - The total addressable market for SpaceX is projected at $28.5 trillion, largely driven by enterprise AI. - SpaceX’s AI segment, although currently small, is expected to grow with Starlink’s connectivity. - Space is emerging as its own asset class, raising categorization questions in financial markets. - Future space exploration will focus on benefiting Earth rather than colonization. - Space manufacturing promises significant advancements, including 3D printing organs. - The relationship between private enterprise and government regulation in space is currently mismatched. - The commercialization of low Earth orbit is gaining momentum, with implications for space manufacturing and lunar colonization. - SpaceX’s IPO could result in a major wealth creation event in modern history. - SpaceX’s activities are expected to influence the tech sector significantly. - The role of private companies in space exploration is expanding, with significant capital investment. - SpaceX’s connectivity through Starlink is crucial for AI development. - The financial landscape is adapting to the growing importance of space-related companies. - Space manufacturing is poised to unlock new opportunities in pharmaceuticals and medicine. ## Guest intro Morgan Brennan is a CNBC anchor and host of Overtime, where she covers markets, defense, space, and industrial technology. She has reported extensively on the SpaceX IPO and the broader re-industrialization of America, including the rise of defense tech and space as major investment themes. ## SpaceX’s monumental IPO - SpaceX’s IPO is set for June 12, expected to be the largest public offering ever. - You’re looking at the largest public offering in the history of the world both on and off the planet and it’s SpaceX. — Morgan Brennan - The IPO is anticipated to create significant financial shifts in the tech industry. - SpaceX’s IPO could lead to one of the greatest wealth creation events in modern history. - Maybe the greatest wealth creation event in Silicon Valley history or at least in modern history. — Morgan Brennan - The IPO is expected to distribute $2 trillion in wealth to technology investors. - That is going to either on paper or literally in cash be handed to a bunch of technology investors. — Morgan Brennan - The financial implications of the IPO are significant for investors and the tech industry. ## SpaceX as a visionary investment - Investing in SpaceX is compared to investing in Tesla, highlighting its visionary potential. - If you thought Tesla was a situation where you’re buying the founder and holding for the vision and the future, SpaceX is that on steroids. — Morgan Brennan - SpaceX is seen as a high-potential investment opportunity. - The total addressable market for SpaceX is projected at $28.5 trillion. - That’s trillion with a T, that’s the total addressable market according to prospectus. — Morgan Brennan - Enterprise AI is a major driver of SpaceX’s market potential. - SpaceX’s AI business is expected to grow with Starlink’s connectivity. - You need to have full and continuous connectivity to fully realize any kind of AI era or revolution. — Morgan Brennan - The investment appeal of SpaceX is linked to its technological advancements. ## The rise of space as an asset class - Space is becoming its own asset class, impacting financial market categorizations. - Space as a theme is now almost becoming its own asset class. — Morgan Brennan - The categorization of space companies in financial markets is evolving. - SpaceX’s position in the S&P 500 raises questions about sector classification. - Where is SpaceX gonna sit in the S&P 500, what sector does it fall under? — Morgan Brennan - The growing importance of space-related companies is reshaping investment strategies. - Space exploration is increasingly focused on benefiting Earth. - Now there’s a lot more conversation about what can we do in space to benefit back to Earth. — Morgan Brennan - The shift in narrative around space exploration emphasizes practical applications. ## Advancements in space manufacturing - Space manufacturing is poised to unlock significant pharmaceutical and medical innovations. - In space manufacturing, you think about what’s going to unlock in terms of pharmaceutical innovations and medical innovations. — Morgan Brennan - The potential to 3D print organs using a patient’s stem cells is on the horizon. - Just the idea of being able to 3D print organs using your own stem cells…this is on the horizon. — Morgan Brennan - The business and investor case for space manufacturing is strong. - Space manufacturing’s impact on healthcare is expected to be significant. - The advancements in space technology are driving new opportunities in medicine. - Space manufacturing is a key area for future investment and innovation. ## Private enterprise vs. government regulation in space - The relationship between private enterprise and government regulation in space is mismatched. - Private enterprise that is driving all this innovation…but at the same time you solve the government. — Morgan Brennan - The speed of innovation is affected by government bureaucracy. - Private enterprise and the speed of innovation with government bureaucracy seems to kind of be a mismatch. — Morgan Brennan - Companies are navigating the regulatory environment to drive innovation. - The current regulatory environment impacts the space industry’s growth. - The tension between innovation and regulation is a critical issue for space companies. - Private companies are leading the charge in space exploration despite regulatory challenges. ## The commercialization of low Earth orbit - The commercialization of low Earth orbit is gaining momentum. - I think it’s coming, I think it’s happening, it’s gaining some momentum. — Morgan Brennan - Significant advancements in space manufacturing and lunar colonization are expected. - This idea of lunar colonization…it does feel like people are seizing onto the moment. — Morgan Brennan - The role of private companies like SpaceX is crucial in advancing space exploration. - There’s plenty of capital there and that wasn’t the case even just a couple of years ago. — Morgan Brennan - The momentum in commercial space ventures is driven by increased capital investment. - The future of space exploration is tied to commercial activities in low Earth orbit. ## Starlink’s role in AI development - SpaceX’s AI business is currently the smallest segment but is expected to grow. - The AI business itself is still the smallest business at SpaceX. — Morgan Brennan - Starlink’s connectivity is crucial for the development of AI technologies. - What Starlink enables, which is connectivity…you need to have full and continuous connectivity. — Morgan Brennan - The growth of SpaceX’s AI business is linked to Starlink’s foundational role. - Starlink’s impact on AI development is a key focus for SpaceX’s strategic growth. - The connectivity provided by Starlink is integral to realizing AI advancements. - SpaceX’s strategic focus on AI is driven by the potential of Starlink’s connectivity. ## Financial landscape adaptation to space companies - The financial landscape is adapting to the growing importance of space-related companies. - Space companies are increasingly seen as a distinct asset class. - The categorization of space companies in financial markets is evolving. - Investment strategies are being reshaped by the growing importance of space companies. - SpaceX’s position in financial markets raises questions about sector classification. - The impact of space companies on investment strategies is significant. - The evolving role of space companies is reshaping the financial landscape. - Space-related companies are gaining prominence in financial markets. ## Space manufacturing’s impact on healthcare - Space manufacturing is expected to unlock new opportunities in pharmaceuticals and medicine. - The potential to 3D print organs using a patient’s stem cells is a significant advancement. - Space manufacturing’s impact on healthcare is expected to be revolutionary. - The advancements in space technology are driving new opportunities in medicine. - The business and investor case for space manufacturing is strong. - Space manufacturing is a key area for future investment and innovation. - The potential of space manufacturing in healthcare is a major focus for investors. - Space manufacturing’s role in healthcare innovation is gaining attention. **Disclosure:** This article was edited by Editorial Team. 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