Key facts
- SpaceX increased its Japan IPO fundraising target by 25% to $2.5 billion.
- Japanese investors will be allocated 14.8 million to 18.5 million Class A shares.
- The preliminary IPO price is set at $135 per share.
- SpaceX is targeting a valuation of $1.75 trillion to $1.77 trillion.
- S&P Dow Jones Indices rejected fast-track entry into the S&P 500 due to GAAP profitability rules.
- SpaceX disclosed it holds 18,712 Bitcoin purchased in 2022.
SpaceX has increased the fundraising target for the Japanese portion of its planned stock offering by 25%, aiming to raise up to $2.5 billion due to strong demand from retail investors. The company plans to offer between 14.8 million and 18.5 million Class A shares at a preliminary price of $135 each. This move is part of a larger IPO targeting approximately $75 billion, with a potential valuation between $1.75 trillion and $1.77 trillion, which would make it the largest stock market debut on record. S&P Dow Jones Indices has rejected SpaceX's request for fast-track entry into the S&P 500, citing the company's failure to meet GAAP profitability requirements, though Nasdaq and FTSE Russell have approved faster routes for other benchmarks. Goldman Sachs projects SpaceX's AI revenue could surge to $322 billion by 2030, contributing significantly to its valuation case, especially after its merger with xAI. The company also disclosed its ownership of 18,712 Bitcoin, acquired in 2022.