SpaceX IPO reveals new details: up to 5% of shares will be available for employees and specific individuals to subscribe, and the collaboration with Anthropic on a billion-dollar AI computing power is also exposed.

As SpaceX's largest IPO in history enters the sprint stage, the company's latest revised prospectus reveals more details about the listing, including reserved shares for employees and specific individuals, as well as a large-scale computing power cooperation agreement with AI unicorn Anthropic. According to the revised prospectus submitted on Monday, SpaceX plans to open up to 5% of the shares issued in this IPO through a "direct placement plan" for subscription by some employees and specific individuals. The company stated that participants will be decided by the management themselves, and the shares obtained will not be subject to traditional IPO lock-up restrictions. This means that some employees, partners, and individuals closely related to the company will have the opportunity to directly subscribe to shares during the IPO stage and enjoy potential benefits after the listing, similar to large institutional investors. Similar arrangements have appeared in IPOs of companies such as Airbnb, Inc. Class A (ABNB.US), Uber Technologies, Inc. (UBER.US), and Rivian Automotive (RIVN.US) in the past. It is worth noting that back in 2010, when Tesla, Inc. (TSLA.US) went public, Musk reserved about 1.28 million shares for employees, partners, friends, and Tesla, Inc. Roadster owners to subscribe. Currently, SpaceX is expected to start its IPO roadshow as early as this week and is expected to be listed on the Nasdaq on June 12. According to information disclosed earlier, SpaceX's IPO financing scale is expected to reach as high as $75 billion, potentially breaking the global IPO financing record. Earlier this year, when Musk merged SpaceX with the AI company xAI, he valued SpaceX at $1.25 trillion. If finally listed around this valuation, SpaceX will become one of the highest valued new listed companies in global history. At the same time, the revised prospectus also detailed for the first time the business cooperation relationship between SpaceX and Anthropic. The document shows that Anthropic is both an important customer of SpaceX's AI business and a potential competitor. According to the agreement, SpaceX is providing Anthropic with computing resources equivalent to about 325,000 NVIDIA Corporation GPUs through the Colossus and Colossus II super computing centers in the Memphis area of the United States. The prospectus shows that after a two-month ramp-up in capacity, Anthropic will pay SpaceX $1.25 billion per month, with the contract term lasting until May 2029. However, there are significant uncertainties in this agreement. The document shows that after the initial three-month cooperation period, both parties have the right to terminate the agreement with a 90-day notice. This means that this seemingly long-term and valuable cooperation agreement could theoretically end as soon as six months. Analysts point out that this agreement highlights the fierce competition for computing resources in the current AI industry. As the scale of large model training continues to expand, more and more AI companies are starting to lease GPU resources directly from large data center operators instead of building all the infrastructure themselves. It is worth noting that on the same day, Anthropic also announced that it had secretly submitted an IPO application to the U.S. Securities and Exchange Commission (SEC). The market generally expects that Anthropic's valuation could exceed $900 billion and potentially surpass OpenAI to become the highest valued AI startup globally. If SpaceX and Anthropic both successfully go public, the global capital market may witness the largest wave of tech IPO frenzy since the internet era, with artificial intelligence and the space economy becoming the two most prominent themes.