SpaceX Defies Convention with $135 IPO Price, Aiming for $75 Billion Raise

In a startling break from Wall Street tradition, Elon Musk’s SpaceX has set a fixed initial public offering price of $135 per share, aiming to raise $75 billion through the sale of 555.6 million shares, according to multiple sources briefed on the plans. The move bypasses the customary investor roadshow and book-building process, with the company’s valuation fixed at roughly $1.75 trillion. The all‑primary structure—first reported in detail by The Economic Times—means that existing shareholders will be locked up at least until after the first quarterly earnings, ensuring all proceeds flow directly to the company. A 15% greenshoe option may allow underwriters to release additional shares if demand surges. Roadshow meetings are expected to start as early as this Thursday, with the Nasdaq debut pencilled in for around 12 June.

The offering ends a multi‑year drought in large‑capitalisation IPOs and opens what many see as a historic season for technology listings. Artificial intelligence heavyweights Anthropic and OpenAI are widely expected to follow, with Anthropic already having filed confidentially and last valued at $965 billion in a private round. A wave of investor excitement has swept across trading desks: Gulf News reports $14 billion flowing into SpaceX‑linked funds, while retail brokers in the UAE, covering the story from the Gulf perspective, warn clients that sky‑high valuations could leave latecomers exposed once AI euphoria fades.

International scrutiny of the maths remains stark. Viewed from Moscow, The Bell notes that SpaceX posted a net loss of $4.94 billion in 2025 on revenues of $18.67 billion, yielding a trailing price‑to‑sales multiple of 93.7 times—a figure that Valor Econômico also highlights. Analysts in London observe that the fixed‑price model, while characteristic of Musk’s impatience with protocol, may amplify post‑listing volatility if the “one‑price‑fits‑all” structure misreads final demand. Meanwhile, from the Gulf to East Asia, institutional investors are racing for a piece of a company whose valuation hinges on technologies that do not yet exist, from Martian logistics to orbital AI data centres, as An‑Nahar underscores.

The listing will not only test the market’s appetite for speculative growth stories but also reshape Elon Musk’s personal fortune. Forbes now estimates his net worth at $835 billion; a successful float above a $1.75 trillion market capitalisation would all but guarantee him a trillion‑dollar status, according to Citizen TV. With Anthropic and OpenAI poised in the wings, 2026 is shaping up as the year when frontier technology finally faces the unforgiving scrutiny of public investors—and when the line between visionary ambition and financial reality is drawn.