Investing.com -- Elon Musk’s Space Exploration Technologies Corp (NASDAQ: SPCX) has drawn more than $250 billion of investor demand for what stands to be the largest-ever IPO, according to a report from Reuters. This massive influx of capital completely dwarfs the $75 billion the aerospace firm is seeking to raise.

The deal’s oversubscription rate is currently running at three and a half to four times the planned offering size. Sources familiar with the matter indicated to Reuters that long-only funds have already placed sizable orders during the marketing process.

The extraordinary demand highlights intense investor enthusiasm for the company’s unique rocket-launching capabilities and its Starlink internet business. To further stoke this appetite, Elon Musk briefly joined Zoom meetings with potential investors, while top executives held an institutional lunch meeting at Morgan Stanley in Manhattan.

SpaceX is also captivating Wall Street by touting a massive $23 trillion market opportunity for its future artificial intelligence offerings. The company emphasizes that it is uniquely positioned to escape earthbound limitations and use space to build immense AI compute capacity.

Despite the current excitement, final subscription figures remain subject to change before the IPO officially prices on Thursday afternoon. The sources noted that indications of interest do not guarantee final allocations, especially since some large institutional investors tend to submit orders late in the process.

For investors watching the primary markets, this historic offering represents a landmark moment for the commercial space economy. If the current momentum holds through pricing, the blockbuster debut will solidify SpaceX as a trillion-dollar frontier giant.