PETER’S ASIAN BUSINESS & FINANCE BRIEFING – Friday 22 May 2026, 06:00 Hong Kong

Key Takeaways

• SpaceX IPO targets $75B raise, $1.75T valuation.
• Elon Musk could become first trillionaire via SpaceX listing.
• Nvidia revenue jumps 85% to $81.6B, forecasts $91B Q2.
• Nvidia concedes China AI chip market to Huawei amid export bans.
• Asian tech indices up 64% YTD, fueled by AI enthusiasm.

Pulse Analysis

The filing of SpaceX’s initial public offering marks a watershed moment for both the aerospace sector and capital markets. Targeting a $75 billion raise at a $1.75 trillion valuation, the deal would dwarf historic listings and position Elon Musk as the first trillion‑dollar individual. Investors are eyeing the IPO not only for its size but for the broader narrative that space‑based broadband, satellite services, and AI‑powered launch capabilities are now mainstream revenue engines. The prospect of a trillion‑dollar public company also intensifies competition among AI‑centric firms seeking comparable market caps.

Nvidia’s latest earnings report reinforces the company’s central role in the AI boom, with revenue soaring 85% to $81.6 billion and guidance pointing to $91 billion in the current quarter. Despite the headline numbers, the stock’s modest decline reflects growing skepticism about the sustainability of such hyper‑growth, especially as the firm acknowledges a strategic retreat from China’s AI chip market in favor of Huawei. This concession highlights how export controls reshape supply chains and underscores the importance of diversified revenue streams, including the burgeoning AI‑infrastructure segment that Nvidia continues to dominate.

Across Asia, the convergence of energy geopolitics and AI optimism is reshaping market sentiment. Iran’s decision to retain enriched uranium triggered a brief oil price rally, while AI enthusiasm lifted the MSCI Asian tech gauge 64% year‑to‑date, outpacing broader indices. SoftBank’s near‑$35 billion market‑cap boost, driven by its stakes in Arm and OpenAI, exemplifies how AI‑linked investments are rewarding conglomerates. Meanwhile, Japan’s export surge and India’s robust services PMI illustrate that despite geopolitical headwinds, the region’s economies remain resilient, with AI and technology serving as key growth catalysts.