SpaceX raises a record of 75 billion dollars and there is strong expectation on Wall Street for its IPO

According to a document presented this Thursday to the US securities regulator, the Securities and Exchange Commission (SEC), the company will put more than 555 million shares on sale still price of US$135 dollars eachwhich will place it as one of the largest companies on Wall Street, with a value of 1.8 trillion dollars.

The public offer will be the highest in history, with US$75,000 millionwell above the record set by the Saudi oil company Aramco in its debut for US$29.4 billion in 2019.

The banks Goldman Sachs, Morgan Stanley and Bank of America are at the head of a conglomerate of more than 20 financial entities formed for the operation.

The company co-founded by Musk in 2002 will be listed under the stock symbol SPCX.

All eyes will be on how Wall Street absorbs the supply, which could cause tremors in global markets.

As is tradition for higher-level companies, on the first day of trading their executives are expected to come to ring the bell at the opening of the session, in this case in Times Square, headquarters of Nasdaq.

This will be Musk’s biggest financial bet to date, as his company xAI and social network X (formerly Twitter) have also been included in the public offering, after the billionaire integrated them into the company earlier this year.

Despite these astronomical figures, “there is a good chance that the stock price will skyrocket” when trading begins on Friday, warned Jay Ritter, an IPO specialist at the University of Florida.

“It seems that the demand from institutional investors is four times higher than the number of securities that are actually going to be sold to them,” he added.

SpaceX is so confident that it has decided, according to CNBC, to allocate 30% of the new shares to individual investors, an unusual proportion.

Many of these small shareholders share Elon Musk’s vision, that of a multifaceted conglomerate, between rockets, artificial intelligence (AI), chips, satellite internet and social networks.

But it is also a group whose growth slowed last year and which will lose almost $5 billion by 2025 due in part to heavy investments in AI.

Ritter maintained that “there is no way to justify such a valuation. (…) But the market would not do that if it did not believe, at least a little, in the optimistic projections” of SpaceX.

What Elon Musk sells to investors, much more than the activities that already generate income, such as the Falcon launcher or the Starlink internet network, is a potential and markets that do not yet exist, such as data centers in space.

No other company of this size talks about colonizing the Moon or Mars, as SpaceX dares to do.

IPO guru Jay Ritter doesn’t remember a similar expectation, except with Facebook. “Hundreds of millions of people already had a Facebook account, so it gave us a lot to talk about.”

A favorable reception on Wall Street on Friday could push Musk’s fortune beyond the symbolic $1 trillion threshold, something never seen before.

Democratic Senator Elizabeth Warren on Wednesday urged the SEC – the US stock market regulator – to suspend this IPO while the necessary verifications are carried out to ensure that investors are not deceived.

The group Stop Funding Billionaires is organizing a rally on Friday to denounce this fundraising that, it maintains, will give “more dollars to authoritarianism,” referring to Musk’s financial support for Donald Trump.

However, neither skeptics nor critics of Musk’s right-wing positions seem to be able to tarnish an announced triumph.