SpaceX is reportedly preparing to release its IPO prospectus as soon as next week, after confidentially filing to go public in April. According to CNBC, Elon Musk’s reusable rocket company is aiming to start its investor roadshow on June 8, although the timing could still change. The filing must be made public at least 15 calendar days before the roadshow begins, but SpaceX and its advisers are reportedly looking to disclose it a little earlier so investors have more time to review the numbers.
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Importantly, the IPO is expected to be massive. After SpaceX merged with Musk’s artificial intelligence company xAI in February, the combined company was valued at about $1.25 trillion. In addition, SpaceX is likely targeting an IPO size of roughly $70 billion to $75 billion, which would be more than twice the size of Saudi Aramco’s record 2019 offering.
Because no IPO has ever sold this much stock before, SpaceX’s advisers are exploring ways to reach longer-term retail investors outside of the U.S., including through brokers in markets like the U.K., Japan, and Canada. The timing also comes as Wall Street’s appetite for IPOs is recovering, especially for companies tied to AI. Cerebras (CBRS), an AI chipmaker, surged on its Thursday debut and ended with a market cap of about $95 billion, while OpenAI and Anthropic are also reportedly pursuing offerings that could eventually push their valuations above $1 trillion.
What Is the Prediction for TSLA Stock?
When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 12 Buys, 12 Holds, and five Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $403.86 per share implies 8.9% downside risk.
