Oil Prices Be Damned: SpaceX IPO in Focus - Alphabet, First Hydrogen, and Oklo in the spotlight

Alphabet and SpaceX – The Largest IPO of All Time Is Imminent

The rumor mill has been buzzing for several months now. Now Elon Musk has let the cat out of the bag. The IPO newcomer SpaceX is set to launch on the US market as early as June. Following recent discussions among analysts, banks, and brokers, a market capitalization of approximately USD 2 trillion has now emerged as the consensus in the press. Particularly unusual is the strategy of allocating a significantly higher proportion of shares to retail investors than is customary in traditional IPOs. At the same time, however, the company is in talks with major institutional investors to secure early demand for the offering as so-called "anchor investors."

In addition to controlling shareholder Elon Musk (42%), Fidelity, Founders Fund, Sequoia Capital, and several sovereign wealth funds from the Middle East hold stakes. The technology conglomerate Alphabet is also among SpaceX's early investors and has held a significant stake of about 7% since a funding round in 2015. At that time, Alphabet invested approximately USD 900 million in the space company. The planned IPO would make the value of this stake transparent for the first time and, depending on the initial market capitalization, could have a significant impact on the Google Group's balance sheet and stock price. On the LSEG Refinitiv platform, 53 out of 60 analysts recommend buying Alphabet stock with an average price target of USD 358, which, based on the current price of around USD 297, opens up about 20% upside potential. The new SpaceX stock is widely expected to immediately join the "Magnificent 7" club as a new trillion-dollar stock, expanding it to 8 members. Alphabet's value could increase by approximately USD 100 to 150 billion upon the IPO.

First Hydrogen – A Range of Future Solutions on the Table

Several strong steps forward all at once. After years of development, the Canadian innovator First Hydrogen is now positioning itself as a technology-driven company at the intersection of energy supply, automation, and emission-free mobility. In addition to hydrogen solutions, the group is pursuing strategic initiatives in the fields of nuclear energy and robotics-based systems to tap into future growth areas. A key focus lies in the development of compact reactor concepts designed to provide continuous power for energy-intensive applications such as data centers or industrial sites. This technology is considered a potentially crucial building block for a stable energy supply in an increasingly digitalized world.

At the same time, the company is collaborating with scientific institutions to research new materials and designs for advanced reactor systems and to accelerate regulatory processes. The robotics sector is a particularly striking new development. Here, First Hydrogen has secured exclusive rights to a mobile, AI-powered platform that can be deployed without direct human control. The modular system is designed to perform transport, security, and support tasks in challenging environments. By utilizing combined energy sources such as batteries, solar power, and fuel cells, the platform can achieve long operating times while maintaining low noise levels. Management is focusing on service-based business models that allow future customers to flexibly utilize new technologies without having to make substantial investments themselves. Demand for automated solutions is further supported by rising defense and infrastructure investments worldwide.

To finance the next development phase, the company has prepared a capital measure designed to both generate new funds and partially convert existing liabilities into equity. For investors, these new areas hold significant medium-term growth potential. Industrial applications in alternative energy generation, storage, and autonomous transport systems, in particular, are arriving at just the right time. With FHYD shares, investors are thus positioning themselves across several technological megatrends. The current market capitalization of just under CAD 35 million is very attractive! Last week, the technical range of CAD 0.40 to 0.45 was already successfully tested. Time is of the essence!

Oklo – What is Next for SMRs?

Oklo's stock has been viewed for months as a new hopeful in the field of small modular reactors (SMRs). The stock is highly volatile on the market, due to the still-early stage of development and investors' high expectations regarding short-term research catalysts. For instance, the share price reached nearly USD 190 in October but has since fallen back to around USD 47 in recent weeks. Developments in Europe are quite positive. Oklo and the Swedish nuclear technology company Blykalla AB recently announced an expansion of their strategic partnership to advance the commercialization of fast reactors in the US and Europe. As part of the collaboration, Blykalla plans to deploy capital and engineering resources in the US, amounting to USD 100 to 200 million and 30 to 40 engineers. Finally, the topic is gaining momentum in Europe as well.

Of course, establishing a fully approved SMR production chain will still take years. On the stock market, investors are gradually realizing that the wheels turn much more slowly in the nuclear energy sector than the rapid price increases on the stock market would suggest. However, the sharp price decline of over 75% since the fall of 2025 now offers an opportunity to build new momentum, as the expert consensus on the LSEG Refinitiv platform stands at around USD 96. From today's perspective, this holds the potential for a doubling of value. It should be noted, however, that the first anticipated profit is not expected until 2032. Speculative, but highly interesting!

The year 2026 has so far been marked by a series of geopolitical conflicts accompanied by severe market turbulence. At the same time, however, the markets are showing that, alongside the hysteria, long-term opportunities in particular need to be reevaluated. Alphabet, First Hydrogen, and Oklo are three examples that, with a healthy mix, certainly justify an investment, especially since different technology sectors are involved here. Due to the expected volatility, however, investors should approach this with a risk-aware mindset.