According to Bloomberg, investor demand for SpaceX's planned public offering has far exceeded the number of shares on offer, leaving the IPO oversubscribed. Because of the heavy demand, the banks organizing the sale are expected to close the institutional order book as early as Wednesday.
SpaceX plans to set the share price on June 11, with trading expected to begin on the Nasdaq on June 12 under the ticker SPCX. The company is offering 555.6 million shares at $135 per share, which would raise roughly $75 billion in fresh capital.
If the deal closes on the advertised terms, SpaceX's valuation would approach $1.8 trillion, instantly placing it among the world's most valuable companies. At that size the offering would be historically significant: it would surpass the 2019 Saudi Aramco IPO, which remains the largest so far with $29.4 billion raised.
SpaceX has outgrown its original rocket-industry profile in recent years. A large portion of its revenue now comes from the Starlink satellite internet service, and founder Elon Musk has increasingly emphasized artificial intelligence and high-performance computing infrastructure. The company has disclosed multiple notable AI-related deals in recent weeks that likely helped fuel investor interest.
On Friday the company announced a cloud-services agreement tied to Google’s (Alphabet) Gemini AI system worth $920 million per month, running through 2029. Earlier, SpaceX also revealed a partnership with the AI developer Anthropic.
Bloomberg previously reported that SpaceX is reserving up to 30 percent of the offering for retail investors, an unusually high share for a transaction of this magnitude. As a result, some online brokers will allow retail clients to place buy orders even after the institutional window has closed.
The IPO is notable because SpaceX had long been one of the largest and best-known technology companies not listed on public markets, and investors have been waiting for a way to gain direct exposure given the growth of its rocket business, Starlink and new AI infrastructure revenue streams.
This article does not constitute investment advice or a recommendation.
