SpaceX has filed for what could become the largest IPO ever, offering 555,555,555 shares at $135 each. The filing attracted a massive order book, with BlackRock committing to purchase at least $5 billion of stock. Other major asset managers submitted similarly sized bids, dwarfing typical IPO demand.

On Thursday the company priced the deal, valuing SpaceX at roughly $1.77 trillion. Individual investors alone placed requests exceeding $70 billion, while sovereign‑wealth funds and family offices added more than $1 billion each. Such appetite reflects confidence in Musk’s commercial launch pipeline and its growing satellite internet business.

Musk aims to reserve roughly 30 % of the float for retail buyers, far higher than typical IPO mixes. Bankers will allocate shares ahead of Friday’s listing, creating a precedent for mega‑scale private exits. The deal highlights the sheer depth of capital chasing high‑growth tech and could force peers to rethink valuation benchmarks.

Analysts note that the $5 billion BlackRock order alone represents a larger single commitment than any IPO this year, reinforcing SpaceX’s leverage in negotiating future financing terms.