ASX eyes gains; SpaceX soars in its debut on Wall Street

ASX set for unsteady start; SpaceX soars in its debut on Wall Street

SpaceX debuts at $2.1T valuation (+19.2% first day), overtaking Exxon and Bank of America in market cap. For tech managers: market pivots from AI hype to infrastructure assets (rocket, xAI, cloud)—valuation cycle shift signals investment consolidation away from speculative AI stocks.