Inside SpaceX’s Rockets-to-Riches I.P.O. Plan

SpaceX has set its I.P.O. offer price at $135 a share in a revised prospectus, signaling unusual confidence as the listing approaches. At that price the company would raise at least $74.4 billion in net proceeds, rising to $85.7 billion if underwriters exercise a greenshoe option, and would have a market value of $1.77 trillion, placing it among the ten largest U.S.

public companies. Investors have long awaited the listing and SpaceX will float a relatively small share of stock, a structure that should pressure buyers to pay up. Its underwriters are prepared to promote the stock; Jamie Dimon will personally pitch it to ultrawealthy clients.

The offering is set for fast-track inclusion in broad indexes, meaning giant funds would be obliged to buy shares. Skeptics point to the company’s emphasis on a $28.5 trillion addressable market, most of it tied to artificial intelligence, even though its xAI division is considered behind leaders such as Anthropic and OpenAI.

United States

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