SpaceX in talks with Saudi Arabia’s PIF for a $5B anchor stake in a record-targeting $75B IPO

SpaceX has held discussions with Saudi Arabia's Public Investment Fund about a roughly $5B anchor investment ahead of its stock market debut, partly to prevent dilution of PIF's existing sub-1% stake, according to two people familiar with the matter. The company is targeting a $75B raise that would shatter previous IPO records, including Saudi Aramco's 2019 offering and Alibaba's 2014 listing, and has already submitted confidential IPO paperwork with the SEC, with a market launch targeted for later this year. PIF has been deepening ties with Musk's business empire, having invested $3B via its AI firm HUMAIN ahead of xAI's merger with X in March 2025 and announcing a 500-megawatt data center collaboration in Saudi Arabia.