Overview
- SpaceX, which confidentially filed with the SEC on Wednesday, is pitching investors on a valuation above $2 trillion and a raise of up to about $75 billion.
- Saudi Arabia’s Public Investment Fund has discussed a roughly $5 billion anchor stake, according to Reuters, though no agreement is final.
- Nasdaq’s new May 1 rule allows a large new listing to join the Nasdaq‑100 after 15 trading days, which would force many index funds and ETFs to buy shares quickly.
- Advisers are weighing an unusually large retail slice of up to 30% of the offering, and a broad bank group has scheduled analyst briefings later in April.
- Reports place revenue in the mid‑teens of billions with several billion in profit, driven mainly by Starlink and launches, while xAI contributes less and proceeds are expected to fund Starship, Starlink growth and orbital AI data centers.