SpaceX is evaluating a two-tier share structure for a potential mid-2026 IPO that could raise over $30 billion at a valuation near $1.5 trillion. The proposed setup would grant Elon Musk supervoting shares, mirroring Tesla’s structure and preserving his control over corporate decisions despite a large public float.

Tesla shares participated in a broader pullback among the Magnificent Seven tech stocks as investors shifted from mega-cap growth names to more cyclical or value-oriented sectors. The decline follows a period of strong gains for Tesla, prompting profit-taking and rebalancing of portfolios toward smaller-cap opportunities.