SpaceX is breaking from IPO convention by fixing its share price at $135 before the roadshow begins, targeting a record $75bn raise and a $1.75tn valuation. The company plans to list on Nasdaq under the ticker SPCX with trading expected on 12 June. Up to 30% of shares are reserved for retail investors, far above typical allocations for a deal this size. The valuation is partly supported by SpaceX's February acquisition of Elon Musk's AI startup xAI, repositioning the company as an AI-infrastructure play alongside its rocket and Starlink satellite businesses. Critics, including a Danish pension fund, have flagged governance concerns over concentrated voting control and a stretched valuation.
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