TRO | SpaceX Files The Largest IPO In History

Plus, Open AI Expands Its Reach Across The Workplace and Microsoft Launches 'Scout'

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Meliora Company
June 08, 2026 • Estimated Reading Time: 5 minutes

 Subscribe | 8th June, 2026

In this fast-moving Vertical AI economy, headlines are everywhere but optimism is rare.

Here’s our take on 3 stories that will help you be relentlessly optimistic about the future.

1. SpaceX Makes History With The Largest IPO Ever Filed

SpaceX has officially set its IPO price at US$135 per share, selling 555.6 million Class A shares to raise US$75 billion - the largest IPO in history - at a valuation of US$1.77 trillion. The listing will make SpaceX the seventh-largest company in the US by market cap on arrival, ahead of the roadshow beginning this week and an expected market debut on 12 June on Nasdaq under the ticker SPCX. SpaceX generated US$18.7 billion in revenue in 2025, up 33% year on year, though posted a GAAP net loss of US$4.94 billion, driven largely by more than US$6 billion in losses from its xAI and AI operations.

Here’s why this matters: The largest IPO in history arriving on the same week that Anthropic files confidentially for its own listing marks a genuine inflection point for the technology industry. For investors, SpaceX's financials reveal a company with exceptional revenue growth and a clear path to profitability in its core rocket and Starlink businesses - but also a significant AI cost burden that the public markets will now need to price. At US$1.77 trillion, SpaceX will debut as one of the largest companies on earth, sitting alongside Apple, Nvidia, and Microsoft in a group that has fewer than ten members globally. That is the context in which the AI era's first great wave of public listings begins.

2. OpenAI Brings Its Most Powerful Tools To The Wider Workplace

OpenAI has expanded Codex with six new plug-ins targeting specific knowledge worker roles: data analytics, creative production, sales, product design, equity investing, and investment banking. The move comes alongside an internal report revealing that Codex now has 5 million weekly active users (up more than six times since February) with knowledge workers representing 20% of users and growing three times faster than developers. OpenAI has also introduced a Sites feature allowing Codex to publish work directly as a hosted interactive website, with partners including Figma, Lovable, and Replit.

Here’s why this matters: OpenAI built its consumer dominance on ChatGPT. Codex is how it plans to win the enterprise. The knowledge worker growth rate is the most significant number in this story: developers were always going to adopt an AI coding tool, but the speed at which non-technical professionals are following signals that Codex is becoming a general-purpose work platform, not a specialist tool. The six role-specific plug-ins accelerate that shift by removing the customisation burden from the user. For media, marketing, and finance professionals in particular (three of the six verticals now covered) this is a direct offer of AI-native workflows from the world's most recognised AI brand. The race to own the agentic workplace just got a new frontrunner.

3. Microsoft Launches Scout, A New AI Assistant

Microsoft has launched Scout, an always-on agentic assistant built on the OpenClaw framework and integrated across Microsoft 365, desktop, and browser. Users name their own Scout instance and give it ongoing feedback on tasks they want automated - from calendar management to drafting agendas - with the assistant building persistent memories and skills over time. Available through Microsoft's Frontier early access programme, Scout requires a GitHub Copilot subscription and includes a built-in policy conformance system that continuously checks whether the assistant is operating within set guidelines.

Here’s why this matters: The AI assistant race has entered a new phase, and Microsoft's Scout captures it precisely. The product's core mechanic - an assistant that learns your working patterns, builds persistent memory, and becomes more capable the longer you use it - is designed to make switching costs prohibitive. The more you invest in training Scout, the harder it is to walk away. For enterprise software, that is a profound shift in how platforms retain users. Microsoft is also making a pointed move by building Scout on OpenClaw, the open-source agent framework that briefly went viral earlier this year before OpenAI acquired its founder. Absorbing the momentum of a grassroots developer movement into the Microsoft 365 ecosystem is a smart piece of platform strategy, and a signal of where the agentic workplace is heading.

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Join Meliora Managing Partner, Clive Dickens, as he discusses The Rise of Vertical AI and the key decisions leaders, team members and entrepreneurs need to consider whilst trying to accelerate their transformation in an AI economy.

Taking the stage at the following events in 2026.

15-16 June, Launceston, Tasmania

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22-26 June, Cannes, France

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7-9 October, Salford, Greater Manchester

Over three days, explore the pressing challenges facing the industry and find solutions, while spotlighting innovative talent and groundbreaking artists.

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Our Pursuit Of Better

Stockholm-based vibe coding start-up, Lovable, has signed a multi-year deal with Google Cloud that will expand its footprint on the platform fivefold, with expanded access to both Claude and Gemini models. The deal also places Lovable's agents inside Google Cloud's enterprise marketplace, simplifying procurement for Fortune 500 buyers. Lovable crossed US$400 million in annualised revenue in February with just 146 employees.

ZeroDrift, an AI compliance start-up backed by a16z Speedrun, has raised US$10 million in seed funding to build a service that sits between AI models and end users, automatically detecting and rewriting any responses that breach compliance standards such as SOC 2 or GDPR. The round closed in three weeks and was oversubscribed three times, with the company citing fast-growing demand as enterprises deploy AI at scale.

XCENA, a South Korean chip start-up founded by veterans of Samsung and SK Hynix, has raised US$135 million in Series B funding at a US$570 million valuation. The company's MX1 chip places computing power directly inside memory modules, removing the costly data relay between processors and memory that slows every AI request. If it scales, the company claims what currently requires 10 servers could run on one.

The Story of 7Plus

In a windowless warehouse in Sydney, a small team builds a new way for millions of Australians to watch television. In secret. With just nine months to completion.

The Pursuit of Better, Together

If this week’s newsletter sparked something, pass it on to a colleague. The best conversations often start with “You’ve got to read this”.