SPCX IPO: Record $75 Billion Offering Is Already Oversubscribed

• The strong demand comes as underwriters release increasingly bullish projections for SpaceX's long-term growth prospects.
• Morgan Stanley, one of the underwriters on SpaceX's IPO, said Friday that the Elon Musk-led company could generate $3.4 trillion in revenue by 2040.
• SpaceX revealed in an SEC filing that it plans to raise $75 billion through the sale of 555.55 million shares priced at $135 each.

SpaceX's (SPCX) record $75 billion initial public offering is already oversubscribed ahead of its expected pricing next week.

According to a Bloomberg report citing people familiar with the matter, SpaceX is expected to price the deal on June 11, 2026.

This comes just a day after SpaceX launched its IPO roadshow, offering investors a closer look at its space, Starlink connectivity, and AI businesses. The strong demand comes as Wall Street underwriters release increasingly bullish projections for SpaceX's long-term growth prospects.

SPCX Expected To Begin Trading Next Week

SpaceX is expected to begin trading on the Nasdaq on June 12, 2026, according to the report.

SpaceX outlined the terms of its upcoming IPO in a filing with the U.S. Securities and Exchange Commission on Wednesday, revealing plans to raise $75 billion by selling 555.55 million shares priced at $135 each.

The offering would value the company at approximately $1.75 trillion, with Musk expected to retain about 82.4% of the voting power following its Nasdaq debut.

Morgan Stanley Sees Multi-Trillion-Dollar Revenue Potential

Morgan Stanley, one of the underwriters on SpaceX's IPO, said Friday that the Elon Musk-led company could generate $3.4 trillion in revenue by 2040.

Morgan Stanley forecasts that SpaceX could generate $2.7 trillion in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by 2040. For comparison, the company reported $18.7 billion in revenue and a net loss of $4.9 billion in 2025, according to its regulatory filings.

The investment bank expects SpaceX’s AI revenue to fuel the bulk of its topline, rising to $190 billion by 2030, up from $3.2 billion in 2025.

On Thursday, SpaceX’s lead underwriter Goldman Sachs projected that the company’s total revenue could top $474 billion by 2030, with AI expected to account for the majority of that total at $322 billion. SpaceX reported $3.2 billion in AI revenue in 2025, according to the company’s regulatory filings.

The Procure Space ETF (UFO) is up 137% over the past 12 months, while the Tema Space Innovators ETF (NASA) is up 50%.

Also See: Forget GPUs: AMD, NVDA, INTC And ARM Are Chasing AI's Next Big Prize — The $120B CPU Market

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