SpaceX has lined up four banks to lead its initial public offering, according to people familiar with the matter, as Elon Musk’s rocket and satellite firm moves forward with plans for the biggest-ever listing. The company sees Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley in senior roles, the people said, asking not to be identified as the information isn’t public.
Kelly Rodriques is the CEO of Forge Global, a leading provider of marketplace infrastructure, data services, technology and investment solutions for the private market. The firm was recently acquired by Schwab in a deal expected to close this year. Kelly breaks down Forge’s latest data highlighting 2025 private market performance and expectations for the IPO market in 2026, including a protentional mega-offering for SpaceX. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

SpaceX has lined up four banks to lead its initial public offering, according to people familiar with the matter, as Elon Musk&rsquo;s rocket and satellite firm moves forward with plans for the biggest-ever listing. The company sees Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase &amp; Co. and Morgan Stanley in senior roles, the people said, asking not to be identified as the information isn&rsquo;t public. Kelly Rodriques is the CEO of Forge Global, a leading provider of marketplace infrastructure, data services, technology and investment solutions for the private market. The firm was recently acquired by Schwab in a deal expected to close this year. Kelly breaks down Forge&rsquo;s latest data highlighting 2025 private market performance and expectations for the IPO market in 2026, including a protentional mega-offering for SpaceX. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Forge Global CEO Kelly Rodriques on SpaceX and the IPO Outlook

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Brazilian fintech company PicPay launched in 2012 as a digital wallet and now operates as a full-service digital bank with nearly 66 million customers. Controlled by the Batista family, owners of JBS, PicPay has posted strong revenue and profit growth, becoming one of the first major Brazilian companies to tap US equity markets since Nu Holdings’ blockbuster IPO in 2021. The offering was led by Citigroup, Bank of America, and Royal Bank of Canada. 

Eduardo Chedid is the CEO of PicPay. He has more than 20 years of experience in the electronic payment sector and has helped build PicPay into Brazil's third-largest digital bank. Eduardo discusses to firm's US market debut, and prospects for continued growth in the fintech sector with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Brazilian fintech company PicPay launched in 2012 as a digital wallet and now operates as a full-service digital bank with nearly 66 million customers. Controlled by the Batista family, owners of JBS, PicPay has posted strong revenue and profit growth, becoming one of the first major Brazilian companies to tap US equity markets since Nu Holdings&rsquo; blockbuster IPO in 2021. The offering was led by Citigroup, Bank of America, and Royal Bank of Canada.&nbsp;
Eduardo Chedid is the CEO of PicPay. He has more than 20 years of experience in the electronic payment sector and has helped build PicPay into Brazil's third-largest digital bank. Eduardo discusses to firm's US market debut, and prospects for continued growth in the fintech sector with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Picpay CEO Eduardo Chedid on the Rise of Brazil's Fintech Players

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0ec93109-eed5-4ea0-be28-b3e5016d235e/transcript

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Elon Musk plans to merge SpaceX with xAI, according to people familiar with the matter, in a deal that encompasses the billionaire’s increasingly costly ambitions to dominate artificial intelligence and space exploration.

The deal was announced in a memo on Monday, the people said, asking not to be identified as the information isn’t public. The combined company is expected to price the shares at about $527 each, and would have a valuation of $1.25 trillion, some of the people said.
Representatives for SpaceX and xAI didn’t immediately respond to requests for comment.
Bloomberg News earlier reported on the discussions. SpaceX is planning an initial public offering that could raise as much as $50 billion, Bloomberg News has reported. It also discussed a possible merger with Tesla.

The deal brings together two of the largest closely held companies in the world. XAI raised funds at a $230 billion valuation in January, while SpaceX was set to go ahead with a share sale in December at about a valuation of about $800 billion, Bloomberg reported, and is exploring a possible IPO.

It also further entangles Musk’s various business ventures. The billionaire acquired social media platform Twitter in late 2022, renamed it X, then merged the site with his artificial intelligence startup xAI in a $33 billion deal. XAI, which also operates chatbot Grok, is an expensive operation, burning around $1 billion a month in service of its stated ambition to gain “a deeper understanding of our universe.” A merger with SpaceX pools capital, talent, access to compute — and blurs corporate boundaries.

The tie-up may crystallize Musk’s vision to put data centers in space to do complex computing for AI. SpaceX is requesting permission to launch as many as a million satellites into the Earth’s orbit for the plan, according to a filing Friday.

Today's show features:
Gil Luria, Managing Director and Head of Technology Research at DA Davidson, breaks down quarterly earnings from Palantir and and Elon Musk's plans to merge SpaceX with xAI
Bloomberg Tech Co-host Ed Ludlow on how Elon Musk aims to dominate both artificial intelligence and space exploration
Jayati Bharadwaj, Director of FX Strategy at TD Securities, on the recent weakening in the US dollar
Paisley Nardini, Head of Multi-Asset Solutions at Simplify Asset Management, on why she sees the rotation trade into value stocks taking hold

 

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Elon Musk plans to merge SpaceX with xAI, according to people familiar with the matter, in a deal that encompasses the billionaire&rsquo;s increasingly costly ambitions to dominate artificial intelligence and space exploration. The deal was announced in a memo on Monday, the people said, asking not to be identified as the information isn&rsquo;t public. The combined company is expected to price the shares at about $527 each, and would have a valuation of $1.25 trillion, some of the people said. Representatives for SpaceX and xAI didn&rsquo;t immediately respond to requests for comment. Bloomberg News earlier reported on the discussions. SpaceX is planning an initial public offering that could raise as much as $50 billion, Bloomberg News has reported. It also discussed a possible merger with Tesla. The deal brings together two of the largest closely held companies in the world. XAI raised funds at a $230 billion valuation in January, while SpaceX was set to go ahead with a share sale in December at about a valuation of about $800 billion, Bloomberg reported, and is exploring a possible IPO. It also further entangles Musk&rsquo;s various business ventures. The billionaire acquired social media platform Twitter in late 2022, renamed it X, then merged the site with his artificial intelligence startup xAI in a $33 billion deal. XAI, which also operates chatbot Grok, is an expensive operation, burning around $1 billion a month in service of its stated ambition to gain &ldquo;a deeper understanding of our universe.&rdquo; A merger with SpaceX pools capital, talent, access to compute &mdash; and blurs corporate boundaries. The tie-up may crystallize Musk&rsquo;s vision to put data centers in space to do complex computing for AI. SpaceX is requesting permission to launch as many as a million satellites into the Earth&rsquo;s orbit for the plan, according to a filing Friday. Today's show features:
<ul>
<li>Gil Luria, Managing Director and Head of Technology Research at DA Davidson, breaks down quarterly earnings from Palantir and and Elon Musk's plans to merge SpaceX with xAI</li>
<li>Bloomberg Tech Co-host Ed Ludlow on how Elon Musk aims to dominate both artificial intelligence and space exploration</li>
<li>Jayati Bharadwaj, Director of FX Strategy at TD Securities, on the recent weakening in the US dollar</li>
<li>Paisley Nardini, Head of Multi-Asset Solutions at Simplify Asset Management, on why she sees the rotation trade into value stocks taking hold</li>
</ul>
&nbsp;

Musk’s SpaceX Said to Combine with xAI Ahead of Mega IPO

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Aon's initial 2026 margin guidance is slightly better than analyst estimates, on the heels of a solid fourth quarter. Bloomberg Intelligence notes that organic growth was in line with Wall Street as upside in reinsurance offset a miss in health. The 2025 result of 6% is close to the previous three years but better than peer Marsh. The consolidated adjusted operating margin beat consensus and expanded from a year earlier making the 2025 result also better than estimates.

Edmund Reese, Executive Vice President and Chief Financial Officer of Aon, discusses the key risks facing the firm in 2026 and how it is positioning itself to better serve clients and stakeholders amid global uncertainty. Edmund speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Aon's initial 2026 margin guidance is slightly better than analyst estimates, on the heels of a solid fourth quarter. Bloomberg Intelligence notes that organic growth was in line with Wall Street as upside in reinsurance offset a miss in health. The 2025 result of 6% is close to the previous three years but better than peer Marsh. The consolidated adjusted operating margin beat consensus and expanded from a year earlier making the 2025 result also better than estimates. Edmund Reese, Executive Vice President and Chief Financial Officer of Aon, discusses the key risks facing the firm in 2026 and how it is positioning itself to better serve clients and stakeholders amid global uncertainty. Edmund speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Aon CFO Edmund Reese on 4Q Earnings, Global Risk Outlook

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7e32e918-f3b6-4cc7-911c-b3e201755321/transcript

Forge Global CEO Kelly Rodriques on SpaceX and the IPO Outlook

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