Jim Cramer has expressed concern that the upcoming initial public offering of SpaceX could create dangerous levels of speculation across financial markets.

The CNBC host warned that investor excitement surrounding the highly anticipated IPO may lead to excessive trading activity similar to recent market frenzies tied to major technology and artificial intelligence companies.

Speaking on CNBC’s “Mad Money,” Cramer said he fears the public debut of SpaceX could become “destructive” for broader market stability if investor demand spirals out of control.

The concerns come shortly after the strong stock market debut of AI chipmaker Cerebras Systems, which generated major excitement among investors.

According to recent reports, SpaceX could officially go public as early as June, with its IPO prospectus potentially arriving within days.

Media estimates suggest the company could receive a valuation between $1.75 trillion and $2 trillion, making it one of the largest and most closely watched public offerings in financial history.

Founded by Elon Musk, SpaceX operates multiple high-profile businesses and technologies, including the Starlink satellite internet network, social media platform X, and the AI chatbot Grok.

Cramer acknowledged that investor enthusiasm surrounding Musk and his companies is understandable but warned that stock prices could become disconnected from financial fundamentals if the IPO releases only a limited number of public shares.

Such scarcity, he argued, could intensify speculative buying pressure and lead to extreme price volatility shortly after trading begins.

The comments reflect growing concern among some market analysts that enthusiasm around artificial intelligence, technology startups, and celebrity-led companies may be creating conditions similar to previous speculative bubbles.

Despite those concerns, investor interest in SpaceX remains exceptionally strong due to the company’s dominance in commercial space launches, satellite technology, and expanding influence across multiple industries.

The potential IPO is already being viewed as one of the most significant financial events of the year.