BlackRock Inc. (NYSE:BLK) is reportedly in discussions to invest $5 billion to $10 billion in SpaceX‘s upcoming initial public offering, as the world’s largest asset manager looks to anchor the potentially record-breaking offering.
Biggest-Ever IPO In Play
BlackRock would deploy capital from its $536 billion actively managed fund pool, the Information reported on Saturday, citing sources familiar with the matter. The final commitment could shift depending on IPO pricing and deal conditions.
SpaceX, the parent company of Starlink, the social platform X and the Grok AI chatbot, is seeking to raise $75 billion at a valuation of about $1.75 trillion in what could become the largest stock market debut in history. The company plans to list on the Nasdaq under the ticker "SPCX" as early as Jun. 12.
According to a Saturday report, the Elon Musk-led firm has also reportedly informed shareholders of a 5-for-1 stock split, which would reduce its per-share price from approximately $526.59 to $105.32.
The excitement surrounding SpaceX has also raised concerns on Wall Street. CNBC’s Jim Cramer warned on Friday that if underwriters release too few shares, investor demand could drive the company's valuation toward $5 trillion, drawing comparisons to the artificial scarcity tactics used during the dot-com era, which he said ended "horribly."
Benzinga could not immediately verify the Information’s report.
What's Going On With BLK Stock?
BlackRock has a market capitalization of $519.66 million, a 52-week high of $1,219.94 and a 52-week low of $917.39.
The small-cap stock has gained 10.05% over the past 12 months.
Benzinga’s Edge Stock Rankings indicate that BLK stock is experiencing a positive price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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