Le plus grand dossier d'introduction en bourse sur la surface terrestre ? Selon SpaceX, le prix de l'IPO est de 135 millions, avec une valorisation prévue de 1,75 billion de millions.

Elon Musk's SpaceX plans to go public with an IPO at $135 per share, aiming to raise $75 billion, with a valuation soaring to $1.75 trillion. Although Starlink is profitable, heavy investments in artificial intelligence have resulted in operational losses in the first quarter.

SpaceX IPO valuation could reach 1.75 trillion dollars

Elon Musk's company SpaceX is actively preparing for its initial public offering (IPO). The latest news indicates that the SpaceX IPO price is set at $135, with plans to raise $75 billion, aiming to push the valuation up to $1.75 trillion. If the plan proceeds smoothly, it is expected to become the largest public listing in history worldwide.

Reuters: SpaceX IPO price set at $135 per share

Reuters, citing sources familiar with the matter, reports that SpaceX plans to set the IPO price at $135 per share, with an issuance of 555.6 million shares, targeting to raise $75 billion.

The Wall Street Journal also notes that the company might sell less than 5% of its shares in this listing, which is a relatively small proportion in a typical public offering, with an estimated value between $60 billion and $80 billion.

If the goal is ultimately achieved, SpaceX's valuation will surpass $1.75 trillion, exceeding Saudi Aramco's record of $1.7 trillion set in 2019, making SpaceX the highest-valued public listing globally.

SpaceX's pricing timing breaks conventions

However, Reuters also mentions that it is unusual for SpaceX to set a clear target price at this stage.

Companies planning to go public usually set a price range before conducting a series of marketing presentations called "roadshows" with investors. SpaceX's roadshow will commence this Thursday.

Typically, the final target price is only confirmed on the day before listing. This event is expected to be one of the most watched IPO marketing campaigns in recent years, providing potential investors with the opportunity to meet SpaceX executives, while investment bankers will strive to generate demand for this record-breaking $75 billion order.

Image source: Gemini The planned IPO companies usually conduct a series of marketing presentations called "roadshows" with investors

Reuters previously stated that, SpaceX is considering allocating up to 30% of the issued shares to retail investors, an unusually large retail quota aimed at attracting Musk's enthusiastic followers and expanding the company's ownership base.

Sources say Musk will be required to hold his SpaceX shares for up to 366 days after the IPO, signaling to investors that he does not intend to sell his investments. The proceeds from this IPO will be used to expand AI computing resources and SpaceX's satellite network.

SpaceX will go public with losses, fully betting on AI technology

The IPO prospectus published by SpaceX in May reveals significant losses in the AI sector, while indicating a future focus on transforming into an AI giant.

The document states that in the first quarter of this year, among SpaceX's three main divisions, only the Starlink satellite network-driven connectivity division was profitable.

Starlink generated $1.19 billion in operating profit, but this profit could not offset the company's overall large expenses, leading to a total operating loss of $1.94 billion in the first quarter, with revenue of $4.69 billion.

Among these, the AI division's losses are the most severe, with revenue of $818 million but a loss of as much as $2.47 billion.

Image source: SpaceX IPO document

Recently, SpaceX merged with Musk's AI company xAI, with the combined company's valuation set at $1 trillion, and the valuation of the Grok chatbot developer at $250 billion. Although acquiring xAI brings new features and opportunities, it also incurs significant expenses, accounting for 76% of SpaceX's $10.1 billion capital expenditure in the first quarter.

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Future revenue prospects for SpaceX depend on uncompleted technologies

Regarding future revenue prospects, SpaceX heavily relies on technologies that are not yet fully developed. The company plans to operate space-based data centers powered by solar energy, targeting a potential market size of $28.5 trillion.

The document also discloses that SpaceX has reached an agreement with AI company Anthropic through its infrastructure platform. From now until May 2029, Anthropic will pay $1.25 billion per month to use its data center computing capacity in Memphis, Tennessee.

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Meanwhile, Starlink, which currently operates about 10,000 satellites, remains SpaceX's main revenue engine, continuously providing broadband services to consumers, governments, and corporate clients worldwide.