SpaceX entrance on stock exchange could shatter previous fundraising records

SpaceX, the aerospace and satellite communications company of Elon Musk, has set a preliminary price for shares to be offered in its highly anticipated initial public offering (IPO), fueling speculation that the listing could become the largest fundraising event in stock market history.

According to an amended regulatory filing published on May 3, SpaceX plans to offer 555.6 million shares at an initial price of $135 each, financial outlets report.

Based on an estimated 13 billion shares outstanding, analysts project that the offering would value the company at approximately $1.76 trillion.

If completed at that valuation, the IPO would eclipse the current fundraising record set by Saudi oil giant Aramco, which raised $25.6 billion during its market debut in 2019.

Market observers also note that the listing could significantly boost Musk’s net worth. With a reported 50% stake in SpaceX, his holdings in the company alone, which marks only one of his multiple ventures, would be valued at roughly $752 billion at the proposed share price.

However, analysts caution that the final valuation remains subject to change. The company may revise the offering price before the final terms are announced on June 11, one day before trading is scheduled to begin.

SpaceX plans to use proceeds from the IPO to fund a range of future projects, including its ambitious vision for orbital data centers. The company aims to deploy up to one million satellites functioning as solar-powered data centers in orbit.

Under the proposal, the satellite constellation would operate in sun-synchronous orbits at altitudes between 500 and 2,000 kilometers, maximizing access to uninterrupted solar energy. Musk has argued that orbital data centers could become one of the most cost-effective sources of AI computing power within the next few years, driven by falling launch costs and the availability of continuous solar power in space.

SpaceX quietly submitted draft IPO registration documents to the US Securities and Exchange Commission earlier this year. Once made public, the filings provided new insights into the finances of Musk’s business empire and its commercial partnerships.

Among the disclosures was a reported agreement under which AI startup Anthropic would pay the combined SpaceX-xAI entity $1.25 billion per month through May 2029 for access to xAI’s data center infrastructure. 

The filings also indicated that Musk's social media platform X, previously known as Twitter, experienced a $595 million decline in advertising revenue in 2024, attributed to the loss of advertising partners.

By Nazrin Sadigova