Afaik SpaceX is only putting 5% of its shares up on the public market when it IPOs (newly minted shares, diluting the existing private shareholders).

So the markets only "need to absorb" $75B when SpaceX IPOs, not its whole $1.7T valuation. At least until the lockup period expires.

Gotcha, that seems a bit more manageable for the market to absorb.

I think it will still be a bit tight with Anthropic and OpenAI IPO'ing at similar times however.