JUST IN: BROOKFIELD $BN JUST BOUGHT $2 BILLION WORTH OF SPACEX SHARES AHEAD OF THE IPO. This is one of the largest disclosed pre-IPO bets of 2026. If SpaceX hits its raise target, this would be the biggest IPO in history. The SpaceX position breakdown: - ~$1B owned directly by Brookfield - Remainder owned by Brookfield affiliates - All acquired at the current pre-IPO mark The SpaceX IPO setup, per WSJ: - SpaceX has confidentially filed IPO paperwork with the SEC - Potential listing as early as July 2026 - Targeting a raise of $40B to $80B Brookfield's broader AI portfolio: - ~$500M committed to Figure (humanoid robotics) - Investment in Hark Labs (next-generation AI platform, funded Q2 2026) - Investment in Deployment Co. (AI deployment joint venture with OpenAI) - $450M+ committed to Pinegrove Capital (secondary and structured tech/VC capital) - Total capital in these new business strategies: $6.3B as of March The dry powder behind the bet: - Q1 deployable capital: ~$188B - Uncalled private fund commitments: $114B - Q1 distributable earnings: $1.55B vs $1.44B FactSet est 🟢 - Q1 revenue: $18.58B, +3.5% YoY