Morningstar Values SpaceX at $780 Billion, Less Than Half Its IPO Target
Morningstar initiated coverage of SpaceX with a $780 billion fair-value estimate, introducing an outside benchmark that is less than half the roughly $1.75 trillion valuation the company is seeking in its initial public offering.
SpaceX is due to begin its IPO roadshow on Thursday for an all-primary sale that aims to raise about $75 billion, with proceeds going to the company rather than existing shareholders. At that size, the offering would be the largest IPO on record, making the gap between Morningstar’s estimate and SpaceX’s target a central issue for investors as marketing begins.
From the sources (25 posts)
@techmemeNasdaq, FTSE, and other index providers are aggressively shortening entry timelines to accommodate SpaceX's $75B IPO, as Elon Musk targets retail investors (Bloomberg) (Visit Techmeme dot com for the link and full context!)
@danprimackSpaceX files S-1(a), but NOT with pricing terms.
@businessSpaceX will reserve up to 5% of shares in its upcoming initial public offering for certain employees and friends and family of its executive officers, the company disclosed in an amended filing
@deitaoneSPACEX RESERVES 5% OF IPO SHARES FOR INSIDERS SpaceX will allocate up to 5% of its IPO shares to employees and executives’ friends and family, according to an updated filing. Unlike most IPO investors, participants won’t face lock-up rest
@firstsquawkSPACEX IS ALLOCATING UP TO 5% OF ITS IPO SHARES TO INSIDERS WITH NO LOCK-UP RESTRICTIONS, WHILE TARGETING A VALUATION OF AT LEAST $1.8 TRILLION.
@marketnews_feedSPACEX IS ALLOCATING UP TO 5% OF ITS IPO SHARES TO INSIDERS WITH NO LOCK-UP RESTRICTIONS, WHILE TARGETING A VALUATION OF AT LEAST $1.8 TRILLION. ...
@techmemeSEC filing: SpaceX will reserve up to 5% of its Class A shares for select employees and executives' friends and family; 60%+ of shares have an extended lock-up (@charliecapel / Bloomberg) (Visit Techmeme dot com for the link and full conte
@zerohedgeSpaceX IPO Update: New Filing Reveals Friends & Family Share Allocation, Anthropic AI Deal, And Water Risk
@edludlowRT @business: SpaceX will reserve up to 5% of shares in its upcoming initial public offering for certain employees and friends and family o…
@sawyermerrittSpaceX filed its amended IPO filing (S-1/A) today. Here's everything new that I found: • In relation to acquisitions, divestitures, or other strategic transactions, @SpaceX says they "may issue a significant amount of equity in connection
@garymarcusRT @egrefen: SpaceX being rammed into indices with no profit requirements, seasoning, and generally looser constraints is economic terroris…
@ns123abcBREAKING: SpaceX compute deal with Anthropic includes ~325,000 NVIDIA GPUs across COLOSSUS and COLOSSUS II, plus hyperscale CPUs, exabyte storage, and high-speed interconnects $1.25B/month through May 2029
@sawyermerrittSpaceX in new filing: "At our request, the underwriters have reserved up to 5% of the shares of Class A common stock offered by this prospectus for sale at the IPO price through a directed share program to certain employees and persons sel
@ns123abc🚨 SPACEX CEO SAYS ANTHROPIC COMPUTE DEAL IS SHORT TERM “Let’s not get carried away. This is a short-term deal.”
@garymarcusPrediction: Nobody knows when this will all collapse, but 2026 will be remembered in hindsight as the year in which retail investors and index funds were left holding the bag.
@garymarcusElon was right that what OpenAI did in its for profit turn was shameful. But what he is doing with the SpaceX, at the likely expense of many people’s retirement funds, is just as shameful.
@scaling01
@garymarcusRT @Playerinthgame: Kiss your pensions goodbye, folks May 20 - SpaceX's (SPCX) S-1 filing Ludicrous targeted valuation: $1.8T despite $4.2…
@globalmktobserv⚠️The SpaceX listing is set to be the largest and most consequential in stock market history: SpaceX is targeting a $75 billion offering at a valuation of at least $1.8 trillion, which would make it the largest stock market listing on reco
@firstsquawkSPACEX SEEKS LOWEST IPO FEES FROM BANKS EVER.
@firstsquawkSPACEX IS IN TALKS TO REDUCE IPO BANK FEES TO BELOW 0.75%.
@firstsquawkBANKS ARE EXPECTED TO EARN $500 MILLION FROM SPACEX IPO.
@financialjuiceSpaceX pushes banks for one of the lowest IPO fee rates ever
@financialjuiceSpaceX is negotiating to pay less than 0.75% fee to IPO banks.
@wallstengineSpaceX is pushing banks for one of the lowest IPO fee rates ever. The company is negotiating to pay less than 0.75% on its planned $75B IPO, though banks could still collect roughly $500M in fees. Goldman and Morgan Stanley are reportedly