PIF mulls investing $5B in SpaceX: Report

Saudi Arabia’s PIF mulls investing $5B in SpaceX, which operates in rockets, satellites and AI

SpaceX has held talks with Saudi Arabia’s Public Investment Fund (PIF) over a potential $5 billion anchor investment in its planned initial public offering, Reuters reported, citing sources.

The potential investment would partly offset dilution of the fund’s current stake in Elon Musk’s SpaceX, which is just under 1%, the sources said.

SpaceX has been engaging potential cornerstone investors ahead of the listing to gauge appetite for what could be an unprecedented deal in size. No final decision has been made and any investment remains subject to change.

The company, which operates in rockets, satellites and AI, is targeting around $75 billion from the IPO—potentially surpassing the largest global listings. It has recently filed a confidential preliminary submission with the US Securities and Exchange Commission, aiming to list later this year, Reuters previously reported.