SpaceX plans to raise $75 billion in its initial public offering by selling 555.6 million shares.

NEW YORK, June 2 (Reuters) - SpaceX plans to raise $75 billion in its initial public offering by selling 555.6 million shares at a target price of $135 per ‌share, a source familiar with the matter told Reuters. Reuters reported earlier on Tuesday that the rocket and satellite communications company hoped to raise at least $75 billion, at a valuation of $1.75 trillion. Sign up here. The listing leads a wave of high-profile private companies preparing to test ⁠public markets after years of muted large-cap IPO activity, with SpaceX widely viewed as one of the most consequential offerings in recent history alongside artificial intelligence giants OpenAI and Anthropic. The company's valuation relies on SpaceX dominating technologies and markets that do not yet exist – from Mars missions to AI data centers in space. The specific target price is extremely unusual at this stage because companies planning to go public typically ‌set ⁠a price range before talking to investors in a series of presentations called a roadshow. SpaceX's roadshow begins on Thursday. Usually a specific target price is not set until the day before the debut. The roadshow — expected to be ⁠one of the most closely watched IPO marketing tours in recent years — will allow prospective investors to meet with SpaceX executives as investment bankers try to ⁠build demand for a record-breaking $75 billion order book. Reuters previously reported that the company is considering allocating as much as 30% of the offering ⁠to individual investors, an unusually large retail tranche aimed at tapping into Elon Musk's cult-like following and broadening ownership of the company. Reporting by Echo Wang; Editing by Peter Henderson and Edmund Klamann

Future spacecraft could use a single propellant to perform both rapid movements and slow, highly controlled adjustments.

The S&P 500 and Nasdaq indexes fell on Tuesday as a rebound in technology shares faded.

Alphabet entered a cloud service agreement with SpaceX to pay $920 million per month for 200 megawatts of capacity from October 2026 through June 2029.