ByCoinGape
Key Highlights
AI Agents:- The upcoming SpaceX IPO, expected to be valued between $1.5 trillion and $2 trillion, is already shaping up to be one of the biggest public listings in recent history. Investors are rushing to understand the company’s financials, growth projections, and long-term risks ahead of its expected Nasdaq debut next week. However, a new agentic development that has grabbed the attention of crypto industry can change how investors understand IPOs.
In a recent demonstration, Nick Prince, Senior Product Leader at Coinbase, showed how an AI agent on agentic.market analyzed SpaceX’s massive 226 MB S-1 filing. In just 12 minutes, it produced a detailed investment committee-style memo.
Incredible.
$1.87 in USDC paid by an agentic analyst to build a world class investment committee memo on SpaceX IPO.
The agentic economy has arrived. https://t.co/igRTr6V9ZC
— Jeremy Allaire – jerallaire.arc (@jerallaire) May 23, 2026
A memo, or an investment committee memo, is basically a detailed research document that is prepared by analysts, hedge funds institutional investors before deciding whether to invest in a company. It usually includes the company’s financials, growth potential, risks, valuation, debt structure, bull and bear cases, and final recommendation. This critical document is a work that often takes teams of analysts several days to put together, especially for a mega IPO like SpaceX.
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Similar to an institutional-style memo, the report produced by the AI agent had a “decision card” where it gave its verdict as “Hold.”
It advised investors to buy only if the IPO comes within the lower end of the expected valuation range – $205B-555B. It also estimated the fair equity valuation of Spacex IPO closer to nearly $345 billion. The memo analyzed both the bull and bear cases around SpaceX. It analysed the company currently dominates nearly 80% of the commercial space launch sector, while also pointing out several risks attached to the business.
The AI agent also carried out revenue analysis around Starlink, examined the company’s financial profile. It analyzed conflicts of interest involving the IPO’s lead underwriters including Goldman Sachs and Morgan Stanley, noting that Morgan Stanley had also advised SpaceX during the xAI acquisition.
It further used multiple valuation methods including comparable multiples and sum-of-the-parts analysis. With this, it laid a detailed post-IPO watchlist, including how the company’s D+30 quarterly earnings could again influence investor sentiment.
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According to Prince, the AI agent paid around 1.87 USDC on Base to access live market data through six x402 API calls before generating the report. Nick used this to argue how AI agents could drastically reduce the time and cost associated with institutional financial research. work that traditionally involves teams of analysts, expensive data terminals, and hours of manual processing.
Prince also drew comparisons with Bloomberg terminals, which can cost roughly $24,000 a year. This comes as Base’s Agentic.markets processes over $50.6 million in payment volume alongside more than 3.57 million transactions. The marketplace currently shows nearly 205,000 buyers and over 39,000 sellers, growing adoption of machine-to-machine payments.
Sneha Agrawal More Stories
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