SpaceX announced Wednesday that it intends to make its stock market debut next week, aiming to raise approximately $75 billion. This offering would be the largest initial public offering in history, surpassing the $25.6 billion record set by Saudi Aramco in 2019.
The Texas-based rocket, space, and artificial intelligence company plans to sell 555.6 million shares at a fixed price of $135 each. In a departure from the standard process of setting a price range and incorporating investor feedback during a roadshow, SpaceX has decided to fix its price upfront. This would value the company at approximately $1.77 trillion, making it the seventh-biggest company in the U.S. and placing its valuation above Tesla's market cap of about $1.6 trillion.
The historic debut puts founder Elon Musk on course to potentially become the world's first trillionaire. The SpaceX filing also signals the start of a busy IPO summer, with other highly anticipated listings from Anthropic and OpenAI expected to follow.