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Apr 4, 2026 10:16 PM

Saudi PIF Eyes SpaceX — But History Offers A Warning

Saudi Arabia's Public Investment Fund is reportedly in talks to anchor SpaceX's IPO with a $5 billion investment, a move that would instantly make it one of the most high-profile backers of the listing.

But if history is any guide, getting in early doesn't always mean getting it right.

Coupang Shows The Other Side Of IPO Hype

PIF has played in U.S. IPOs before.

In 2021, the fund bought shares in Coupang, Inc (NYSE:CPNG) around its New York listing, Reuters reported, a deal that initially looked like a win as the stock surged above its $35 IPO price on debut.