SpaceX is drawing massive attention on Wall Street as banks race to promote what could become the largest IPO ever.
JPMorgan launched the investor roadshow with a high-profile event featuring Elon Musk and CEO Jamie Dimon, who praised Musk in front of thousands of clients. Musk used the event to highlight SpaceX’s long-term ambitions, including lunar tourism and building a human presence on Mars.
The company is seeking to raise $75 billion at a valuation of roughly $1.75 trillion, with the IPO expected to begin next week. Unlike most public offerings, SpaceX plans to use a fixed share price and has reserved a significant portion of shares for retail investors.
Major financial institutions are heavily backing the offering, while some analysts have questioned whether the company's valuation is justified given its recent financial results.