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SpaceX May Have a Solid IPO 'Anchor' in the Saudis

Saudi PIF is reportedly in talks to invest $5B in rocket firm's planned initial public offering
Posted Apr 3, 2026 11:30 AM CDT
Saudi Fund Weighs $5B Stake in SpaceX IPO
A Falcon 9 SpaceX rocket lifts off from the Kennedy Space Center in Cape Canaveral, Florida, on Feb. 6, 2018.   (AP photo/John Raoux, file)

Elon Musk's rocket company may be lining up one of the world's biggest investors for one of the market's biggest debuts. SpaceX has held talks with Saudi Arabia's Public Investment Fund (PIF) about the kingdom's sovereign wealth fund potentially putting about $5 billion into SpaceX's planned IPO, two sources tell Reuters. The move would bolster PIF's current stake of just under 1% and help anchor an offering that SpaceX hopes will raise roughly $75 billion—an amount that would overshadow blockbuster listings by Saudi Aramco and Alibaba. The New York Post notes that the former raised a paltry-by-comparison $29.4 billion when it went public in 2019.

SpaceX has been sounding out large institutional backers well ahead of a formal listing, with no final decisions yet and terms still subject to change, the sources tell Reuters. Anchor investors typically commit early, signaling confidence and helping drum up demand, while a sizable chunk of shares is expected to be steered to wealthy clients of underwriting banks. The talks come as PIF expands its ties to Musk-led ventures: Its AI unit HUMAIN has teamed up with xAI on data centers in Saudi Arabia and invested $3 billion in advance of xAI's merger with X last year. SpaceX, based in Starbase, Texas, recently filed confidential IPO paperwork with the SEC and is eyeing a market launch later in 2026. The AP notes that such an offering, which Musk reportedly wants to time to sync with his 55th birthday in June, could turn him into the world's first trillionaire.

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