SpaceX is preparing to disclose its IPO prospectus as early as next week, following a confidential filing made in April. This move comes as the company, founded by Elon Musk, approaches what is anticipated to be a record-breaking share sale. The planned roadshow to market the IPO to investors is set to begin on June 8.
To comply with regulations, the prospectus must be made public at least 15 days prior to the roadshow, but SpaceX aims to release it slightly earlier to allow investors adequate time to review the details. The IPO is projected to be the largest in history, particularly after SpaceX's merger with Musk's artificial intelligence firm, xAI, which valued the combined entity at $1.25 trillion.
Reports suggest that SpaceX is targeting a listing size between $70 billion and $75 billion, significantly surpassing the previous record set by Saudi Aramco's IPO in 2019.
Given the unprecedented scale of this offering, SpaceX's advisers are exploring unconventional channels to attract long-term retail investors, especially outside the U.S., including potential allocations through brokers in the U.K., Japan, and Canada.
The market is currently eager for IPOs, especially those linked to artificial intelligence, as evidenced by the recent 68% surge in shares of AI chipmaker Cerebras during its debut, which resulted in a market capitalization of approximately $95 billion. Other AI companies like OpenAI and Anthropic are also considering IPOs this year, which could elevate their valuations beyond $1 trillion