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- SpaceX raises record $75B IPO at $1.77T valuation
SpaceX raises record $75B IPO at $1.77T valuation
Bay Area Times
June 12, 2026
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Top stories today:
- SpaceX raises record $75B IPO at $1.77T valuation
- Prometheus, Bezos-backed AI startup, raises $12B at $41B valuation
- Adobe Q2 revenue +13% YoY to $6.6B, CFO exits for Marvell
- OpenAI to buy AI agent infrastructure startup Ona to bolster Codex
- Global stocks rally, oil hits 3-month low after Trump signals Iran deal
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. SpaceX raises record $75B IPO at $1.77T valuation
SpaceX’s IPO is more than double the size of Saudi Aramco’s $29.4B listing:
The IPO could reach ~$86B if the over-allotment option is fully exercised.
Fri.: SpaceX is set to begin trading on public markets.
Elon Musk’s net worth has risen by ~$275B to ~$1T based on the IPO price.
BlackRock reportedly placed a $5B+ order for SpaceX shares, while one family office requested $1B+.
Retail investors submitted $100B+ in orders and are expected to receive at least 20% of the shares, SpaceX said.
Founders Fund’s ~3% stake is now worth $50B+, while a16z’s stake exceeds $10B.
Some investors question the valuation, citing a reported $4.3B loss on $4.7B of Q1 revenue.
Shadow markets have implied a 35%+ SpaceX pop, with $144M+ traded in related futures over the past 24 hours
Markets have assigned 57% odds to SpaceX closing above a $2T valuation on its debut
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3. Prometheus, Jeff Bezos-backed AI startup, raises $12B Series B at $41B valuation
JPMorgan, BlackRock, Goldman Sachs, DST Global, and Arch Venture Partners participated.
Bezos also invested.
Google veteran Vik Bajaj co-founded Prometheus with Bezos.
Building AI tools to accelerate engineering and manufacturing cycles by 10x+.
~150 employees.
$6.2B was raised in an earlier Series A round, which also included Bezos.
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5. Adobe Q2 revenue +13% YoY to $6.6B, CFO exits for Marvell
