SpaceX's record-breaking offer changes the balance of power on the stock exchanges. What's happening to the markets?
Just three days ago, we wrote about SpaceX being probably twice oversubscribed, as Reuters unofficially learned. But that is long out of date as of today. Bloomberg announced, also based on unofficial sources (“people familiar with the matter”), that the oversubscription has already quadrupled.
The debut is planned for Friday, June 12, and the offering (IPO) is expected to be worth USD 75 billion. As it is easy to calculate, approximately USD 300 billion is involved. Meanwhile, in 2026, the average daily turnover on the New York Stock Exchange was approximately one trillion dollars, and on Nasdaq approximately USD 600 billion. The money for the SpaceX IPO was squeezed out of the market and is waiting until Friday to return to trading. This means nothing more and nothing less withdrawing them from other assets.
The outflow was visible last week from cryptocurrencies, this week we can see declines in share prices in the USA, earlier in Asia and Europe, so this also seems to be the source from which capital flows. It is also losing gold significantly.
The yield on American bonds also increased significantly – from 4.4 percent. in early June to the current 4.5%. Markets are betting on an increase in November this year. due to the acceleration of inflation.
According to people familiar with the matter, banks stopped accepting orders from institutional investors after the New York Stock Exchange closed at 4 p.m. on Wednesday. The SpaceX share price is to be announced today, i.e. on Thursday, June 11, and quotations will begin the next day.
The company is offering 555.6 million shares at a fixed price of $135. per share, which will raise approximately USD 75 billion. and value it at $1.75 trillion.
“Orders for the stock are still being accepted and details are subject to change,” company officials told Bloomberg, asking not to be named because the information is not public.
SpaceX's IPO is expected to be the largest in history surpassing Saudi Aramco's 2019 debut by almost three times.which amounted to USD 29.4 billion.
More great deals
Large investors are cutting their teeth not only on SpaceX. OpenAI, whose artificial intelligence models compete with Elon Musk's xAI models, filed for a confidential listing on Monday, after Anthropic did so last week.
According to Bloomberg calculations, together with SpaceX, these three companies could add $3.6 trillion. market value to US stock exchanges.
SpaceX losses
SpaceX's IPO filing revealed quarterly net loss of $4.28 billion.which represents an eightfold increase in losses compared to the previous year. SpaceX reported as of March 31 cumulative (since the beginning of operations) deficit of USD 41.31 billion.
This reflects the costs of building reusable rockets, a network of Starlink satellites, and gigawatt AI data centers. However, analysts and fund managers are mostly optimistic, citing Musk's achievements and Starlink's revenues.
SpaceX successfully completed a test flight of its aircraft the powerful Starship rocket. This is a key investment because it will accelerate the launch of a network of low-orbit satellites into space, which in turn will increase profits from the Starlink satellite Internet offer. Starship has the ability to carry 100 tons in one flight.
Starlink remains key to SpaceX. It generated $3.26 billion in 1Q26. revenue, up almost a third year-on-year, although margins were under pressure from international expansion and other expenses.
Revenues from the space industry decreased by 28.4%. y/y, and losses increased to USD 662 million. from USD 70 million a year earlier, because SpaceX invested money in the development of Starship.
Losses in the AI industry increased to $2.47 billion, and capital expenditures tripled to $7.72 billion, exceeding the combined capital expenditures of the other two components of SpaceX.
