$Alphabet(GOOG)$ A SpaceX IPO would be a historic valuation unlock for Alphabet, transforming it from a pure-play digital ad and cloud giant into a major beneficiary of the space economy.

On that $100B+ balance sheet unlocking: Google famously invested $900 million for a stake in SpaceX back in 2015. Recent filings confirm Google still holds roughly a 6.11% equity ownership stake. At SpaceX's massive $1.75 trillion IPO valuation, Google’s private stake would translate to an estimated $100 billion to $122 billion windfall.

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