TLDR
- SpaceX plans to offer 555.6 million shares at $135 per share.
- The IPO would raise about $75 billion and values SpaceX at near $1.8 trillion.
- Reported demand reached about $150 billion, making the IPO twice as large.
- SpaceX is expected to price its IPO on June 11.
- SPCX is expected to trade on the Nasdaq and Nasdaq Texas.
SpaceX’s planned initial public offering is attracting strong demand from major institutional investors as the company moves toward what could become the largest initial public offering ever.
The company is offering 555.6 million shares at a fixed price of $135 per share, a structure that would raise about $75 billion and value SpaceX at about $1.8 trillion. The IPO is expected to price on June 11, with trading planned for the following day on the Nasdaq and Nasdaq Texas under the ticker SPCX.
Leading banks an offer It is expected to stop taking institutional orders after the New York market closes on Wednesday at 4 p.m. This deadline gives underwriters time to gauge demand before advising SpaceX on final pricing and allocations.
Institutional orders are formed before pricing
Demand for SpaceX’s IPO is said to have reached about $150 billion, making the IPO at least twice oversubscribed based on the $75 billion raise target. Several major institutional investors have placed orders for shares worth $10 billion or more, according to people familiar with the deal.
Only large, long funds are said to be among the dominant buyers on the order book. The strong demand reflects investor interest in SpaceX’s commercial launch business, its Starlink satellite internet unit, and its expanding role in space infrastructure.
Some social media estimates suggest demand could reach $250 billion, which represents more than three times the available shares. This number has not been verified, while the announced demand level of $150 billion already places the IPO among the most watched offerings in the market’s history.
If completed at current size, SpaceX IPO It will surpass Saudi Aramco’s $29.4 billion listing in 2019 and become the largest initial public offering ever conducted. The deal will also place SpaceX among the world’s most valuable public companies on its first day of trading.
Retail investors receive large allocations
SpaceX has allocated up to 30% of offerings to retail investors through platforms including Robinhood and Fidelity. This allocation is larger than typical IPO structures, which typically reserve a much smaller stake for non-institutional buyers.
Retail investors may be able to continue placing orders on some platforms after the institutional deadline, depending on brokerage rules and allocation windows. The final split between institutional and retail buyers will depend on demand, order quality and guarantor decisions.
Hash allocation has caught the attention of cryptocurrency market participants. Reports indicate that some investors are selling Bitcoin positions to raise cash for SpaceX shares. If this activity occurs on a larger scale, it could add selling pressure for Bitcoin unrelated to regulation, macroeconomic data, or stock exchange-specific events.
The offering also comes during a period of heightened interest in large private technology listings. SpaceX’s stated valuation target of $1.75 trillion to $1.8 trillion represents a sharp rise from the company’s estimated valuation of $350 billion in late 2024 in secondary market transactions.
Market-based expectations are also increasing. Polymarket odds recently showed a 64% chance that SpaceX’s IPO will close above $2 trillion market capitalization on its first trading day.
Starlink, AI, and Tesla speculation add focus
Investor demand is supported by SpaceX revenue base via satellite broadband, launch services, defense-related contracts, and emerging technology projects. Starlink provides satellite internet across global markets, while the Falcon 9 remains central to the company’s launch business.
SpaceX’s revenue projections have also drawn attention due to its cloud services agreement with Alphabet’s Google. Under the aforementioned arrangement, Google will pay $920 million per month until 2029.
The company is also reportedly aiming to begin the first orbital AI computing tests by late 2027. SpaceX completed the acquisition of xAI in February 2026, integrating Elon Musk’s AI project into the broader SpaceX structure.
The IPO also intensified speculation about a possible future merger with Tesla. Some investors are now approaching a potential SpaceX-Tesla combination as part of the discussion about investing in Tesla, Wolfe Research said. Analyst Emanuel Rosner cited potential advantages including stronger artificial intelligence capabilities, broader access to capital, and greater voting control for Musk.
The same analysis also cited significant hurdles, including shareholder resistance, regulatory review, and timing that could extend beyond 2027. In the near term, Tesla’s valuation remains tied to execution in robotaxis, Optimus, electric vehicles, and AI-related products.
