BlackRock Orders $5B in SpaceX Shares

BlackRock has placed an order to acquire at least $5 billion worth of shares in SpaceX, according to people familiar with the matter. Several other major asset managers have also submitted similar large-scale orders.

While it is common for large asset managers to take substantial stakes in IPOs, the size of these orders is said to be several times larger than what is typically seen in traditional offerings. The information was reported by The Wall Street Journal.