Caroline Hepka

And I'm Caroline Hipker.

SpaceX will begin trading on Nasdaq later today under the ticket SPCX.

However, the company will not be eligible for inclusion in the S&P 500 for at least a year.

It would also need to meet the index's requirements for profitability and 10% public share ownership.

Now, currently, less than 5% of SpaceX's shares are available for public trading, and the company posted a loss of nearly $4.2 billion in the first quarter.

Peter Singlehurst heads the private companies team at Bailey Giffords.

Peter Singlehurst speaking there.

With a small number of firms set to net tens of billions of dollars in returns from the listing in one of the most significant windfalls for the venture capital industry in history.

SpaceX, of course, is the first of three major IPOs, though, that are expected to capitalise on investors' appetite for artificial intelligence.

You've got Anthropic and OpenAI expected to go public this year, and they could each seek valuations of more than a trillion dollars.

Well, I wonder whether the current and former employees at SpaceX will keep their feet on the ground as we know so many of them will become millionaires and the early investors like Founders Fund and Anderson Horowitz.

Let's see.

Anyway, let's move on, shall we?

There is a bit of breaking news today to think about.

So, this is on the UK economy.

So, we've got the April GDP figure.

We see a contraction of 0.1% month-on-month interest.

In April now, that matches the forecast overall for the February to April quarter, GDP rising 0.7% month on month.

We know that the UK has done particularly well at the start of this year.

The big question is whether that can continue over the rest of the year.