SpaceX IPO Attracts Over $250 Billion in Investment Demand

Odaily Odaily Planet Daily News According to reports, SpaceX, the aerospace company led by Elon Musk, has attracted over $250 billion in investment demand for its IPO, surpassing its planned fundraising target of $75 billion. The offering is nearly 4 times oversubscribed, valuing the company at $1.8 trillion. Bankers and investors noted that long-term funds have submitted large orders. Pricing is expected to be finalized on Thursday, though demand figures could still change before orders are placed by major institutional investors. 

SpaceX's growth narrative is primarily tied to its satellite internet business, Starlink, which has become a significant source of revenue and profit for the company. SpaceX also highlighted that its artificial intelligence products address a market opportunity worth $23 trillion. 

Cryptocurrency exchanges including Binance, Coinbase, Kraken, and Bybit have listed pre-IPO perpetual futures for SPCX this month. Binance's related product has accumulated a trading volume of $2.1 billion over 18 days, covering over 130 countries. Decentralized exchange Hyperliquid recorded a trading volume of $70 million in the past 24 hours, with open interest exceeding $115 million. (Cointelegraph)