TL;DRBlackRock ordered $5B in SpaceX stock. Total IPO demand hit $250B, nearly 4x oversubscribed. SpaceX debuts Friday at $135/share. Morningstar says it’s worth $63.
BlackRock submitted an order to buy at least $5 billion in SpaceX shares ahead of Friday’s debut, the Wall Street Journal reported. That single order is nearly as large as the entire $5.5 billion Cerebras IPO, the biggest of 2026 so far. SpaceX has told banks it will not budge from its $135 per share price.
Total investor demand has reached $250 billion, making the offering nearly four times oversubscribed, according to Reuters. SpaceX plans to sell roughly 555.6 million shares, raising $75 billion at a valuation of approximately $1.77 trillion. Retail investors have requested over $70 billion worth of shares. Up to 30% of the IPO may be allocated to public buyers.
Allocated shares will be available through Charles Schwab, Fidelity, Robinhood, SoFi, and E*Trade. Fidelity lowered its minimum account balance for IPO access from $100,000 to $2,000. Schwab still requires $100,000. Robinhood, SoFi, and E*Trade have no stated minimum.
Not everyone is enthusiastic. Senator Elizabeth Warren sent a 12-page letter to SEC Commissioner Paul Atkins requesting a delay. She argued the IPO’s size alone “would justify careful SEC review,” and raised concerns about SpaceX’s governance structure. Musk controls 85% of shareholder voting power through supervoting shares, mandatory arbitration, and Texas corporate law. Warren called it “unprecedented power” over investors who would have “significantly fewer rights than those traditionally offered.”The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
