Prediction: June 12 Will be a Huge Day for the Stock Market
Written by Adria Cimino for The Motley Fool -> News about AI developments or updates from AI companies have been market-moving events in recent years. On June 12, a historic event may unfold -- and it involves an AI company. Artificial intelligence (AI) stocks have driven the
News about AI developments or updates from AI companies have been market-moving events in recent years.
On June 12, a historic event may unfold -- and it involves an AI company.
Artificial intelligence (AI) stocks have driven the stock market's direction over the past few years -- and soon, investors will have the opportunity to get in on a new trillion-dollar player that's also involved in two other high-growth businesses. I'm talking about SpaceX, a company making great strides in AI, rocket launches, and satellite-based internet services.
This Elon Musk-led giant is set to launch the biggest ever initial public offering on June 12, and my prediction is this will be a huge day -- not only for the company but for the entire stock market. Let's check out the details.
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SpaceX actually isn't the only new kid on the stock market block. Chip designer Cerebras Systems completed its IPO, the biggest so far this year, last month -- and others are on the horizon. Anthropic submitted a confidential filing with the Securities and Exchange Commission recently, and rival AI lab OpenAI may be next, according to press reports. So, AI investors soon will have a whole new selection of AI stocks to choose from -- in addition to market giants like chip leader Nvidia , cloud powerhouse Alphabet, and others that have led gains over the past few years.
Updates from these AI players or general news about the development and use of AI have been enough to supercharge the market, if positive, or weigh on performance, if negative. AI truly has set the tone for market direction, as investors have been eager to get in on this technology that may transform the way business is done -- and as a result, offer a significant boost to corporate earnings.
Now, many of these investors may turn to SpaceX . The company is the leader in rocket launches, and this business could be key to its overall success. Its focus on reusable rockets is bringing down the cost of launches, making it a valuable partner for NASA, for example, and this business should help SpaceX in its other endeavors -- such as bringing data centers to space and advancing its Starlink satellite-based internet service.
