AI Giants Signal Shift to Business Impact as IPO Buzz and Funding Fuel Physical World Development

Funding & M&A

• SpaceX is set for a historic IPO, pricing its shares at $135 each and valuing the company at an anticipated $1.77 trillion [40]. This debut would make it the largest IPO in history, significantly surpassing previous record-holders like Alibaba’s 2014 valuation and Facebook's IPO [40]. The offering, which saw SpaceX raise $75 billion from its underwriters, is expected to deliver massive gains to employees and major shareholders, potentially making Elon Musk a trillionaire [40], [58]. ^[40][58]
• The potential public listings of SpaceX, OpenAI, and Anthropic are expected to significantly deepen the pool of buyers for early-stage startups through M&A activity, rather than signaling a broad IPO market reopening. These three companies could become some of the best-capitalized acquirers on the planet, possessing liquid stock to spend [68]. For founders, this means reframing their exit strategy: instead of building solely for an IPO window, they should focus on developing proprietary data, workflow ownership, or specialized infrastructure that a newly public AI giant would need to acquire [68]. Furthermore, OpenAI has already closed roughly half a dozen acquisitions this year, nearly matching its full 2025 total, and overall AI dealmaking across the market rose about 90% year over year in the first quarter [68]. ^[68]
• Xiaomi announced the open-sourcing of MiMo Code V0.1.0, a terminal-native AI coding assistant that claims to outperform Anthropic's Claude Code on key agentic coding benchmarks, particularly for long-horizon tasks involving 200+ steps [54]. The Chinese electronics giant released the tool—which is available now on GitHub under an MIT license and installs via a single terminal command on macOS/Linux or npm on Windows [54]—after announcing it on X on June 10, 2026 [54]. MiMo Code's performance claims are based on its own internal beta release and a survey of 576 developers [54], and the company is also offering limited-time free access to MiMo-V2.5, its multimodal flagship model with a million-token context window [54]. ^[54]