SpaceX plans to market its IPO at a fixed price of $135 per share Firms typically offer a price range before formal marketing begins, but SpaceX is taking a more unique approach in its attempt to raise $75B at a $1.75T valuation

SpaceX's IPO is coming, but what's the word on the street? $135/share, 555M new shares, massive $75B all-primary raise at ~$1.75T. Straight cash to Starship, Starlink dominance & AI compute. The roadshow kicks off this week, SPCX Nasdaq debut June 12. Morningstar wants to slash it in half? I mean... if you want to bet against Elon, be my guest, I surely won't. Polls scream the sentiment: already at 89% for >$1.8T close. The market gets it, this is generational. Source: @zerohedge, @SpaceX, Reuters

SpaceX plans to raise $75 billion in its initial public offering by selling 555.6 million shares at a target price of $135 per share, a source familiar with the matter told Reuters

SpaceX employee #13# @_Eric_Romo describes the moment @elonmusk and SpaceX knew they had to become vertically integrated: "They're canonically so vertically integrated now. But at the time, we were outsourcing basically everything." "Any time we would need some new part built, it was like, 'Send the drawing to the vendor and get it built.'" " Maybe two weeks later, if you're lucky, you get this part back." "One of the [vendors] was always the quickest, pretty cost-effective, and very communicative. We were really reliant on this one." "I remember sitting in the bunker in Texas underground with @lrocket and the team, and we get a call from that vendor and he's like, 'Hey sorry, but we're shutting down. We're closing our doors.'" "We realize we have to go hire as many people from that vendor as we can, and we have to build up the internal capacity because that's what's going to help us iterate." " It's all stuff that seems super obvious now." "But in 2003, that was not so obvious at the time."

Spark r23 update is here! Here are some of the headlines: • Browser-use reliability improved. • CLI diagnostics are cleaner and safer. • Sandbox path and access handling improved. • UTF-8 truncation now avoids broken multibyte output. • Trust prompt now handles literal yes correctly. • Managed env cleanup now uses safer atomic writes. • Hosted allowed-host validation handles bracketed IPv6 cases more safely. • Git approval checks now better classify risky filter-branch commands. • Telegram relay secret UX improved, including no-echo behavior for rejected secrets. • Spawner mission reliability improved. • Spawner malformed JSON recovery improved. • Spawner mission-control hydration fixed. • Spawner creator-mission error clarity improved. • Spawner provider-client abort-listener cleanup landed. • Spawner trace/token/bundle reliability improved. • Voice profile JSON error handling improved. • Voice hook malformed-input handling improved. • Voice realtime websocket JSON handling improved. • Researcher timestamp parsing improved. • Researcher memory lock-boundary behavior improved. • Researcher malformed config handling improved. • Character persona pointer cleanup improved. • Character chip id path guard improved. • Character critic exact-pass behavior tightened. • Domain chip scoring observability improved. Spark Compete update • r22-to-r23 scoring ledger is published. • 164 merged or maintainer-adopted PR rows were credited. • 9,460 public points were released in this ledger. • Total public leaderboard points now show 12,795. Thank you to everyone who submitted fixes. r23 is Spark getting sharper through the community.

SpaceX is negotiating to pay razor-thin fees to Wall Street firms handling its IPO, with banks still likely to rake in about $500 million from the record-setting debut. Sridhar Natarajan reports

SpaceX is pushing banks for one of the lowest IPO fee rates ever. The company is negotiating to pay less than 0.75% on its planned $75B IPO, though banks could still collect roughly $500M in fees. Goldman and Morgan Stanley are reportedly set to take the largest share of the fee pool, with 21 other brokers involved. That is far below the typical IPO underwriting fee range of 4%-7%, and even low versus other mega-IPOs: GM 2010: $15.8B raise, 0.75% fee Facebook 2012: $16B raise, 1.1% Alibaba 2014: $25B raise, 1.2% Uber 2019: $8B raise, 1.3% Visa 2008: $17.9B raise, 2.8%