SpaceX targets $135 IPO price as it pursues record $75B capital raise
SpaceX plans to set its initial public offering price at $135 a share, a rare move that would allow Elon Musk’s rocket and satellite company to seek a record $75 billion raise before its investor roadshow begins. The offering would value SpaceX at about $1.75 trillion, placing one of the world’s most valuable private companies at the center of a reopening IPO market.
Highlights
- SpaceX plans to target an IPO price of $135 a share.
- The company aims to sell about 555.6 million shares and raise $75 billion.
- The proposed valuation is about $1.75 trillion.
SpaceX breaks with IPO convention
The company plans to sell about 555.6 million shares, according to a source cited by Reuters. The roadshow is expected to begin Thursday, after earlier “testing the waters” meetings with investors, though the terms could still change once formal marketing starts.
The planned fixed price is unusual. Companies typically give investors a price range before bookbuilding, allowing bankers to adjust the final price depending on demand. By targeting $135 a share before the roadshow, SpaceX is signaling confidence that demand will be strong enough to support one of the largest listings ever attempted.
Investor attention is expected to be intense. The IPO would come after years of muted large-cap issuance and ahead of possible listings by artificial intelligence companies, including OpenAI and Anthropic.
A space and AI company comes to market
SpaceX is no longer being valued only as a launch and satellite communications business. Musk merged SpaceX with xAI earlier this year, bringing rockets, Starlink, X and the Grok chatbot under one corporate structure and adding an artificial intelligence layer to the IPO story.
That combination gives investors exposure to several large but capital-intensive markets: reusable rockets, satellite broadband, AI infrastructure, and possible future space-based data centers. It also complicates valuation because public investors will have to assess both the profitable or maturing parts of SpaceX and the more speculative AI ambitions attached to xAI.
A market test for mega listings
The SpaceX IPO matters because it could set the tone for a wave of trillion-dollar private companies seeking public capital. If the deal succeeds, it may encourage OpenAI, Anthropic, and other AI-linked firms to move faster toward listings.
The size also creates a market challenge. A $75 billion raise would require investors to commit capital on a scale rarely seen in IPOs, potentially forcing portfolio managers to sell other holdings or adjust allocations. For that reason, SpaceX is not only testing demand for its shares; it is testing how much room public markets have for the next generation of mega-cap technology companies.
It was earlier reported that SpaceX trims IPO valuation target to $1.8 trillion as debut nears.
Latest SpaceX News
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