SpaceX’s initial public offering (IPO) has attracted demand for more than four times the available shares, according to reports, ahead of the Elon Musk-led rocket, satellite and artificial intelligence firm’s public listing.
The banks stopped taking orders from institutional investors after the market closed in New York at 4 p.m. on Wednesday, June 10.
SpaceX’s IPO is set to price June 11 and trade the following day. The company is offering 555.6 million shares at a fixed price of $135 each, which would raise about $75 billion, and value it at about $1.8 trillion.
The IPO is expected to rank as the biggest ever, topping Saudi Aramco’s $29.4 billion debut in 2019. OpenAI, whose AI models compete with those from SpaceX’s xAI business, filed confidentially for a listing on Monday, following Anthropic PBC last week. Together with SpaceX, the three companies could add $3.6 trillion of market value to US exchanges.
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