Overview
- SpaceX disclosed on June 8 that it will offer 555.6 million shares at $135 each to raise about $75 billion and seek a Nasdaq listing under the ticker SPCX.
- Underwriters have reserved up to roughly 30% of the sale for individual investors across multiple countries, and broker-dealers have lowered or varied eligibility thresholds to expand retail access.
- Bankers report the deal is heavily oversubscribed with roughly twice as many orders as shares available before pricing, creating allocation pressure between retail and institutions.
- SpaceX reported about $18.6 billion of revenue and a $4.9 billion net loss in 2025, which makes the ~ $1.75 trillion target valuation equal to about a 94x price-to-revenue multiple and has prompted analysts to caution about fragile fundamentals.
- Markets could shift if SpaceX, OpenAI and Anthropic all list this year because banks estimate the three IPOs might add trillions to global market value, force index reweights and trigger large institutional portfolio rebalances that could raise volatility for ordinary investors.