SpaceX IPO was snapped up triggering nationwide frenzy, famous short sellers were the first to pour cold water: don't pay the bill for the unreachable "hopes and dreams".

Renowned short seller James Chanos stated that SpaceX's highly anticipated IPO is driven more by investors' enthusiasm for Elon Musk and artificial intelligence rather than financial fundamentals. He believes that under any reasonable business assumption, the company's valuation is difficult to justify. Ahead of the IPO of the company, which is eagerly awaited, Chanos & Co. founder Chanos gave an interview. He described this transaction as a critical test of market sentiment, as investors are pouring large sums of money into speculative growth stories. Chanos, speaking at the iConnections Global Alternatives Investment Conference in New York, said, "We are about to witness a $75 billion fundraising with a valuation close to $2 trillion, while the company's revenue is only $19 billion and free cash flow is negative." The conference brought together over 2500 institutional asset allocators and fund managers. "This is essentially an 'selling hope and dreams' IPO."