SpaceX (SPCX.US) IPO receives tens of billions of dollars in subscriptions from Middle Eastern funds, global capital pours into Elon Musk's space empire.

According to informed sources, sovereign wealth funds in the Middle East have submitted initial public offering (IPO) subscriptions worth billions of dollars to SpaceX (SPCX.US), signaling the region's continued dominant role in global artificial intelligence infrastructure development. Sources say that the Public Investment Fund (PIF) of Saudi Arabia and the Kuwait Investment Authority (KIA) each have submitted subscription orders ranging from $1 billion to $5 billion. Additionally, the Qatar Investment Authority (QIA) with assets of $580 billion is also likely to make a significant investment commitment. These Middle Eastern entities are already important shareholders in Elon Musk's rocket, satellite, and artificial intelligence company. According to sources, based on Musk's $1.8 trillion valuation goal for SpaceX, many existing shareholders have already made significant paper gains. It is not yet clear how much of this round of funding is to prevent existing equity from being diluted after SpaceX goes public. The influx of Middle Eastern funds is just a part of global institutional investors eagerly participating in this offering. According to previous reports, institutional orders have far exceeded the number of shares available for sale, with some institutions even applying for subscription demands of $10 billion or more, but the final allocation size may be smaller. Representatives from PIF and QIA declined to comment, and KIA did not immediately respond to requests for comment. Middle Eastern oil-rich nations have already invested billions of dollars in the AI field, covering everything from startups, chip infrastructure companies, data centers, to the hottest industry founders. SpaceX's IPO will be the first real value realization in this round of investment frenzy, which coincides with the possibility of the Iran war slowing down Gulf countries in achieving their local AI ambitions. PIF-backed Humain invested $3 billion in xAI this year and stated that this investment will be converted into SpaceX shares. Meanwhile, this sovereign fund also indirectly holds related exposures through the Kingdom Holding Co. in Saudi Arabia. Abu Dhabi's MGX holds shares in Anthropic, OpenAI, and xAI, completing investments in the three most prominent AI companies. Qatar QIA has also adopted a similar strategy, investing in Anthropic and xAI. Even during the conflict period of Iran attacking Gulf countries, sovereign wealth funds in the region continue to invest billions of dollars in alternative asset management, private credit, technology platforms, and AI. OpenAI - whose AI model competes with SpaceX's xAI business - secretly submitted an IPO application on Monday, followed by Anthropic last week. It is estimated that if these three companies successfully go public, they could bring about approximately $3.6 trillion in market value increment to US exchanges. Musk has established close ties with the Middle East. During a visit to the UAE in December last year, the billionaire took a commemorative photo with senior members of the Abu Dhabi royal family and the Crown Prince of Dubai. Several of his companies have also made significant progress in the region: The Boring Co. will build the Dubai Loop project; Emirates Airlines is upgrading its fleet Wi-Fi with Starlink; and Neuralink plans to conduct its first clinical trials in the Middle East. SpaceX plans to issue 5.556 billion shares at a fixed price of $135 per share, raising approximately $75 billion. Trading of the stock is expected to begin on June 12. This IPO is expected to be the largest global IPO ever, surpassing the $29.4 billion listing record set by Saudi Aramco in 2019.