SpaceX CEO Elon Musk said on the earnings call that he would consider combining SpaceX with Tesla after its third-quarter results, while AI firm Anthropic filed an S-1 with the SEC signaling plans to go public. Based on market caps of $2 trillion for SpaceX and $1.55 trillion for Tesla, a combined company would be worth $3.55 trillion and rank as the fifth-largest on the market, while experts say Anthropic could seek a valuation of $1.5 to $2 trillion. S&P generally requires a 12-month waiting period for newly public companies, so SpaceX would not be considered for inclusion until June 2027. Morningstar's Seth Goldstein said index funds could gain more exposure to Musk-led firms, and the article flags concentration risk: nearly 40% of an S&P 500 fund's assets sit in its top 10 holdings, versus an average of 23% from December 1965 through March 2026 according to T. Rowe Price.
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