Key Takeaways:
SpaceX is preparing to launch what could be the largest initial public offering in history as soon as next week, with the Elon Musk-led company valued at a massive $1.25 trillion following its merger with artificial intelligence firm xAI.
According to people familiar with the matter, the reusable rocket company, which confidentially filed for an IPO in April, is planning to disclose its prospectus shortly. The company is aiming to kick off a roadshow to officially market the deal to investors on June 8, the sources said.
The planned offering follows the recent successful debut of AI chipmaker Cerebras, which soared 68 percent in its first day of trading. That deal, which raised $5.55 billion, has fueled investor appetite for technology and AI-related listings after a multi-year drought in the IPO market. At an expected size of $70 billion to $75 billion, the SpaceX offering would be more than twice the size of Saudi Aramco's record 2019 listing.
The sheer scale of the offering is pushing SpaceX's advisers to seek out unique channels for distribution, particularly for longer-term retail investors outside the U.S., according to the sources. This includes scouting brokers in countries like the U.K., Japan, and Canada to obtain allocations for their clients. The move comes as Wall Street is thirsting for new offerings, with investors particularly excited about anything tied to the booming AI trade. OpenAI and Anthropic are also reportedly pursuing offerings this year.
This article is for informational purposes only and does not constitute investment advice.
