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Wall Street fuels record SpaceX IPO frenzy

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Wall Street is turning its lobby lights into launch pads as banks race to sell the biggest IPO ever. Goldman Sachs, Bank of America and JPMorgan Chase have decked out their New York offices with rockets, and JPMorgan chief Jamie Dimon will pitch the deal to clients. The offering targets Elon Musk’s SpaceX, now framed as a public debut in a bid to capture investor enthusiasm.

SpaceX set the IPO price at $135 a share, valuing the company at $1.77 trillion and promising to raise $74.4 billion. The 23 banks and brokerages underwriting the deal stand to earn approximately $500 million in fees. Success is crucial for confidence ahead of other mega‑offerings from OpenAI and Anthropic, which Musk’s allies hope to emulate.

Retail investors will account for roughly 30 % of buyers, prompting Fidelity to lower its usual account minimum to $2,000 and host webinars on early entry. Bank of America trained 100 advisers to market the shares, while Goldman and Morgan Stanley host private Manhattan meetings for high‑net‑worth prospects. The frenzy underscores how the SpaceX IPO could reshape fee revenues across the capital‑markets ecosystem.