SpaceX's IPO process has progressed from January's merger rumors, to March's retail shareholder allocation discussions, to April's secret filing, and now to the final preparations before the global roadshow. Its valuation has risen from $800 billion at the end of last year, to $1.25 trillion after merging with xAI, to an expected $1.75 trillion at the April IPO, and now pointing toward $2 trillion. This series of actions is not just a simple listing, but also the capstone of Musk's capitalization of a "space + AI" business system that integrates space infrastructure, AI, and social media data.

The key detail lies in its unprecedented sales channel strategy. To absorb the fundraising amount of $70-75 billion, the advisory team is actively engaging brokers in the UK, Japan, Canada, and other countries to secure allocation shares for retail clients. This surpasses the conventional IPO model mainly targeting institutions and high-net-worth clients, essentially treating global retail investors as one of the core recipients of this super liquidity demand. This aligns with the report in April that "retail shareholder quotas are planned to reach three times the usual," representing a targeted mobilization of global retail capital.

SpaceX plans to file its prospectus as early as next week, aiming to raise over $70 billion
On May 15, according to CNBC, SpaceX plans to publicly file its IPO prospectus as early as next week, with the goal of launching a global roadshow on June 8 to formally introduce the offering to investors. The company has already submitted its IPO application secretly in April.

This IPO is expected to become the largest in history. In February this year, SpaceX completed a merger with Musk's AI company xAI, and the combined entity was valued at $1.25 trillion. Reports indicate the company's target fundraising scale is about $70-75 billion, more than double the record set by Saudi Aramco in 2019. The valuation expectation for the SpaceX IPO has already broken through from $1.75 trillion to $2 trillion. $ETH
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