The launch tower of the SpaceX launch facility on Launch Pad 39-A at the Kennedy Space Center in Cape Canaveral, Florida, USA, April 6, 2026.
Brendan McDiarmid | Reuters
SpaceX is reserving up to 5% of the shares it sells in the initial public offering for purchase by “certain employees and individuals” in a direct stock program, according to an amended filing Monday.
The deal is expected to bring in a record value in the $75 billion range since Elon Musk valued SpaceX at $1.25 trillion when he merged it with artificial intelligence startup xAI earlier this year. Facebook and Alibaba are the only two tech companies to be valued at even $100 billion since their first day of trading on U.S. exchanges.
Through direct sharing programs, businesses can reserve a portion of their offerings for their employees, customers, and even friends. SpaceX said in a filing that participants will be “selected based on the discretion of its executive officers” and that their shares will not be subject to lock-up restrictions.
This provision allows certain individuals to enjoy benefits that are primarily enjoyed by large fund managers with close ties to IPO underwriters.
Companies including airbnb, Uber and Rivian incorporates sharing programs directly into their services. And when Musk led tesla Throughout the 2010 IPO process, his electric car maker included up to 1.28 million of the 13.3 million shares it sold in the IPO in “sales to business associates, directors, employees, friends and family of employees, and Tesla customers who took delivery of Tesla Roadsters from Tesla,” according to its prospectus.
SpaceX’s roadshow could begin this week, and the company could debut on the Nasdaq market as early as June 12. Goldman Sachs covets the top position in this stock, followed by the next position. morgan stanley. However, Morgan Stanley directly manages the equity program, the prospectus states.
The company’s revised IPO filing also added details about SpaceX’s business relationship with Anthropic. Anthropic is currently both a customer and a competitor in the company’s AI division.
The disclosure reveals that SpaceX’s lucrative NeoCloud contract could end in as little as six months.
The prospectus states that SpaceX is leasing “computing capacity” equivalent to “approximately 325,000 NVIDIA GPUs” to Anthropic at its Colossus and Colossus II facilities in Greater Memphis.
After an “initial three-month period,” the agreement between the two companies “may be terminated by either party upon 90 days’ notice,” according to the filing.
Those deals include Anthropic paying SpaceX $1.25 billion per month through May 2029, starting after a two-month “accretion” period at lower rates.
Musk revealed some previously private details in a post on the company’s social network, X, before the amended tax return was made public.
Anthropic announced Monday that it has secretly filed its own IPO prospectus with the Securities and Exchange Commission, setting up a new and potentially historic stock sale for investors.
WATCH: Ross Garber talks about SpaceX’s impending IPO
