BlockBeats News, May 19th - According to the Financial Times, hedge fund D1 Capital Partners is expected to be one of the biggest winners next month when SpaceX goes public. Several Wall Street firms are set to reap huge profits. Insider sources revealed that if SpaceX goes public with an expected valuation of $1.75 trillion, Dan Sundheim's D1 Capital Partners' stake could be worth around $20 billion. D1 is one of the few hedge funds that made early investments in SpaceX when the IPO seemed distant. Sundheim's fund first invested in SpaceX in 2020 when the company was valued at around $36 billion. Their stake in the company is a significant portion of their total assets and has contributed significantly to their returns. The fund currently manages around $35 billion. Sundheim informed investors last year that he has no intention of selling any of his holdings, "despite receiving many substantial inquiries."

The extremely low-profile hedge fund Darsana Capital Partners is also poised to make billions of dollars in gains. Founded by Anand Desai in 2014, the fund first invested in SpaceX in 2019 when the company was valued at around $33 billion. The company participated in several financing rounds, including acquiring shares through tender offers from employees looking to cash out. Their holdings grew subsequently due to early investments in X—Musk merged the social media platform with his AI lab xAI, which later merged with SpaceX. Insider sources report that if SpaceX reaches its expected $1.75 trillion valuation, this New York hedge fund is projected to hold around $15 billion worth of SpaceX shares. This figure does not yet include its indirect exposure to SpaceX through an investment in EchoStar—EchoStar previously engaged in spectrum licensing deals with SpaceX, with payment in the form of shares in the rocket company.

SpaceX has seen accelerated growth in the past five years, driven by the success of the Starlink satellite internet service—this business contributed over half of the group's $18.7 billion revenue last year, along with the company's rocket launch business. Musk also elevated SpaceX's overall valuation from under $400 billion less than a year ago to $1.25 trillion today through a series of transactions with X and xAI. In recent weeks, Musk has also gained the right to acquire programming startup Cursor for $60 billion and struck a deal with AI group Anthropic for excess computing power leasing. According to an investor in the company, this arrangement could result in approximately $5 billion in additional annual revenue.