Overview
- SpaceX has a confidential SEC filing under review and is planning a late‑May prospectus and an early‑June roadshow at a reported valuation near $1.75 trillion, with some reports placing it above $2 trillion.
- The company is said to be weighing a raise of up to $75 billion, which would top all prior initial public offerings by proceeds if achieved.
- Nasdaq’s recent “Fast Entry” change allows a newly listed giant to join the Nasdaq‑100 in about 15 trading days, which would push ETFs like QQQ to buy shares even if only a small slice of stock is available.
- Critics including former fund manager George Noble and investor Michael Burry warn that a float reported as low as 5% could meet heavy passive demand and then face selling pressure when lockups expire in 90 to 180 days.
- Recent coverage links the higher valuation to SpaceX’s February merger with Elon Musk’s xAI, whose revenue was about $100 million last quarter, as Starlink serves roughly 10 million subscribers and prediction‑market traders estimate strong odds of a June debut.