Key facts
- SpaceX plans to price its IPO at $135 per share.
- The company aims to raise $75 billion by selling 555.6 million shares.
- The target valuation for the IPO is $1.75 trillion.
- All proceeds from the offering will go to SpaceX.
- SpaceX's roadshow begins Thursday, with an expected debut as early as June 12.
- The company is considering allocating up to 30% of the offering to individual investors.
Elon Musk's SpaceX plans to price its initial public offering at $135 per share, aiming to raise $75 billion by selling 555.6 million shares. The offering targets a valuation of $1.75 trillion, which would make it the largest IPO in history. Proceeds will be used for purposes including expanding AI computing resources and SpaceX's satellite network. The company is considering allocating up to 30% of the offering to individual investors. SpaceX's roadshow begins Thursday, with an expected debut as early as June 12. The specific target price is unusual at this stage, as companies typically set a price range before investor presentations. SpaceX reported revenue of $4.69 billion for the three months ended March 31, with losses widening to $1.27 per share. Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, and J.P. Morgan are the joint book-running managers. The company's valuation relies on SpaceX dominating technologies and markets that do not yet exist – from Mars missions to AI data centers in space. SpaceX merged with Musk's AI startup xAI earlier this year in a deal that valued the rocket company at $1 trillion and the developer of the Grok AI chatbot at $250 billion. Morningstar placed a $780 billion price tag on SpaceX, 48% below its current private-market valuation, according to a June 1 research note. Most of that comes from its Starlink satellite communications business, which drove most of its revenue, profits and growth last year. SpaceX, however, has tied most of its growth prospects to AI, and its plans rely on yet-to-be-built technologies for a significant portion of future revenue, including solar-powered data centers in space, as it targets a potential $28.5 trillion market.