Elon Musk’s SpaceX has attracted more than $250 billion in investor demand for its upcoming initial public offering (IPO), far exceeding the $75 billion the company aims to raise and putting it on track to become the largest IPO in history.

According to people familiar with the matter, demand for the offering currently exceeds the planned share sale by roughly three-and-a-half to four times. The strong interest comes from a broad range of investors, including major long-only institutional funds, underscoring confidence in SpaceX’s future growth prospects.

The company is still in the middle of its investor roadshow, with final allocations yet to be determined. Sources said some large institutional investors are expected to submit orders later in the process, meaning demand could shift before pricing is finalized.

Investor Interest Remains Strong

As part of the marketing effort, SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen met institutional investors in New York during a gathering hosted by investment bank Morgan Stanley. Elon Musk also reportedly joined some virtual meetings with prospective investors.

The overwhelming response comes despite a period of heightened market volatility. U.S. technology stocks have faced pressure in recent days, while cryptocurrencies have also declined sharply from their recent highs. Some analysts have speculated that investors may even be selling other assets to free up capital for participation in the SpaceX offering.

Betting on Space, Internet and AI

In presentations to investors, SpaceX highlighted the strength of its core businesses, including its rocket-launch operations and Starlink satellite internet network.

The company emphasized that it has launched more mass into orbit than any other operator over the past three years, reinforcing its dominant position in the global space industry.

Beyond launch services, SpaceX is also pitching an ambitious vision centred on artificial intelligence. The company estimates a potential $23 trillion market opportunity for future AI-related services and argues that space-based infrastructure could help overcome the limitations facing Earth-bound data centres.

A Vision for Space-Based Computing

SpaceX told investors that growing demand for AI computing is increasingly constrained by energy and infrastructure limitations on Earth. The company believes that placing data centres and computing infrastructure in space could provide a long-term solution.

According to SpaceX, its reusable rocket technology dramatically lowers the cost of accessing space, creating opportunities not only for satellite communications but also for future AI computing platforms.

The company also highlighted Starlink’s role in connecting underserved regions around the world, saying its mission extends beyond commercial success to helping bridge the global digital divide.

Historic IPO Nears Pricing

The IPO is expected to be priced later this week. If current demand levels hold, SpaceX could deliver one of the most successful public offerings ever seen on Wall Street.

The listing is being closely watched by investors, policymakers and the broader technology sector, as it could become a defining moment for both the commercial space industry and the growing intersection between space technology, connectivity and artificial intelligence.

(with inputs from Reuters)