Small investors have bid more than $70 billion for the stock, which is to be listed on the Nasdaq stock exchange in New York. Added to that will be bids from about 1,000 institutional investors, Bloomberg reports.
In an early summary, before SpaceX closed the subscription window for the stock, there had been just over four bids per share, according to the news agency.
$1.8 trillion
In the IPO, SpaceX - whose full name is Space Exploration Technologies Corp - is issuing 555.6 million shares at $135 per share. This will raise $75 billion in new capital for the company, which in addition to space transportation sales also includes the Starlink satellite business, the social network X (formerly Twitter) and the AI service Grok.
The total value of SpaceX - part of Tesla founder Elon Musk's empire - is based on the issue price of around $1.8 trillion ($1,800,000,000,000). Converted to Swedish kronor - at a rate of 9.53 kronor per dollar - it is almost 17.2 trillion kronor.
OpenAI and Anthropic on the way
The valuation is therefore 92 times the company's revenue, according to the Financial Times. For other stock-market heavyweights such as Nvidia and Broadcom, the values are 19.7 and 24.6 times revenue, respectively.
SpaceX's Wall Street entrance is expected to be followed by two more major IPOs in the near future: ChatGPT creator OpenAI and Claude creator Anthropic, both of which have applied for permission to list their shares on Wall Street with the U.S. Securities and Exchange Commission (SEC).
