SpaceX IPO Investment Demand Surpasses $250 Billion
Odaily reported that Elon Musk's aerospace company SpaceX has attracted over $250 billion in investment demand for its IPO, exceeding its planned fundraising target of $75 billion, with oversubscription nearing 4 times and the company valued at $1.8 trillion. Bankers and investors said long-term funds have submitted large orders; pricing is expected to take place on Thursday, and the demand figures may still change before large institutional investors submit orders.
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. The firm also stated that its artificial intelligence products face a market opportunity worth $23 trillion.
Cryptocurrency exchanges such as Binance, Coinbase, Kraken, and Bybit have listed pre-IPO perpetual futures for SPCX this month. In the 18 days since Binance launched the product, cumulative trading volume has reached $2.1 billion, 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)
