Warren questions SpaceX IPO oversight in new letter to stock indexes
Senator Elizabeth Warren, a Democrat from Massachusetts, speaks with members of the media in the Senate Metro at the U.S. Capitol on Tuesday, May 19, 2026 in Washington, DC, USA.
Take Drago | Bloomberg | Getty Images
Sen. Elizabeth Warren, D-Mass., expresses concern about whether recent rule changes for stock indexes are paving the way for a rally SpaceX – and potentially OpenAI and Anthropic – will be included in the indices without some of the typical safeguards for investors.
In the letter sent Thursday to the presidents of Nasdaq, S&P Dow Jones Indices, FTSE Russell and Morningstar Indices, the companies were asked whether they had made or were considering making rule changes based on lobbying by Elon Musk, other SpaceX officials, or OpenAI or Anthropic officials, and whether there had been any communication between the companies and the indices. CNBC was the first to report the letter.
Warren also detailed changes the indexes are considering or proposed changes, including the rapid inclusion of newly listed stocks into the top indexes.
“However, changes to your index rules to accommodate these large companies have the potential to destabilize markets and create significant risks for American investors, especially retirees and other individuals who rely on index funds for their savings.”
SpaceX will begin trading on Friday and is set to become one of the largest IPOs in history, valuing the company at around $1.8 trillion. OpenAI and Anthropic also filed confidentially for an IPO.
Spokespeople for the four companies did not immediately respond to requests for comment.
Earlier this week, Warren called on the SEC to delay the SpaceX bid over concerns that SpaceX was not doing due diligence in protecting investors and market integrity.
