WSJ What’s News · The Wall Street Journal

SpaceX Files for What Could Be the Biggest IPO Ever

·14 min·1 clip

Supreme Court justices voice skepticism as Trump's administration argues to reinterpret birthright citizenship after over a century.

WSJ What’s News PM edition, hosted by Alex Osola, covers five major stories on April 1st. The Supreme Court heard arguments on the constitutionality of President Trump’s executive order ending automatic birthright citizenship for children born to unauthorized immigrants or temporary visa holders. WSJ legal reporter Lydia Wheeler explains the administration’s argument that the 14th Amendment’s phrase “subject to the jurisdiction thereof” requires parental citizenship or permanent residency—a position that even conservative justices including Samuel Alito questioned, citing the humanitarian implications of stripping citizenship from people who have made permanent homes in the US. A decision is expected by end of June. SpaceX has confidentially filed IPO paperwork targeting a $40-80 billion capital raise, which would make it the largest IPO in US history. Reporter Cori Dreebush notes timing competition from OpenAI and Anthropic’s own expected IPOs, warning that a failed rival listing could dampen SpaceX’s investor pool. Anthropic accidentally exposed the internal system prompt—the “harness”—for its Claude Code developer tool on GitHub via a packaging error. WSJ tech reporter Sam Schechner explains the competitive damage: competitors now have a roadmap for Claude Code’s features without needing to reverse engineer it, and security researchers can probe the AI system’s instructions to find manipulation vectors. The episode also covers the Iran war: Trump posted that a ceasefire would come “when Hormuz Strait is open, free, and clear,” markets rose on ceasefire hopes, Brent Crude fell 2.7% to $101, and ExxonMobil lost $36 billion in market value in a single day—its worst day since 2008. NASA’s Artemis II mission launched four astronauts on a 10-day circumlunar mission, the deepest human spaceflight since 1972, testing Orion spacecraft systems ahead of a planned 2028 lunar surface landing. Tone is brisk and fact-dense, suited for business and news professionals wanting an efficient daily briefing.

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