The upcoming SpaceX IPO could impact the U.S. economy by potentially refinancing a portion of the country’s current account deficit in a single day.
Currency strategists at Commerzbank, led by Volkmar Baur, have studied the possible effects of SpaceX’s IPO, which is set to raise $75 billion at a $1.75 trillion valuation.
Foreign investors, who typically account for about 20% of U.S. stock ownership, with European investors making up roughly half of that share, are expected to be key participants in the offering, as per the strategists. Baur estimates that around 20% of the IPO proceeds, or approximately $15 billion of the $75 billion raise, could come from overseas investors on the first day of trading, as reported by MarketWatch On Wednesday.
With the U.S. current account deficit at $190.7 billion last quarter, the SpaceX IPO could refinance a “not insignificant” 8% of this deficit in one day, potentially boosting the U.S. dollar, especially against the euro if half of the capital inflows are from Europe.
The strategists added that the SpaceX IPO is just the beginning, with additional shares becoming available after lockup expirations and anticipated IPOs from Anthropic and OpenAI in the near future.
They also said the IPO and the AI boom is boosting both the U.S. economy and the dollar, though some funds are expected to flow overseas to pay for chips and components from South Korea and Taiwan.
AI Drives Majority Of GDP Gains
This development comes at a time when the U.S. economy is experiencing significant growth driven by advances in artificial intelligence (AI). Chamath Palihapitiya, a venture capitalist, has previously stated that AI could boost the U.S. economy by 50%, thus doubling incomes for hundreds of thousands of workers through large-scale job upskilling.
Furthermore, according to Market data from Bespoke Investment Group, AI has driven two-thirds of the Q1 2026 GDP growth, making it the definitive engine of the U.S. economy. This growth, coupled with the SpaceX IPO, could further strengthen the U.S. economy.
However, the Yale Budget Lab warns that while AI productivity might be a viable solution to America’s $39 trillion national debt crisis, increased federal spending to support displaced workers could undermine these plans.
SpaceX IPO Tops Expectations
SpaceX’s upcoming IPO, expected to be the largest since Saudi Aramco in 2019, is expected to surpass the combined market value of major S&P 500 aerospace and defense firms, including RTX Corp (NYSE:RTX), Boeing Co. (NYSE:BA), Northrop Grumman Corp (NYSE:NOC), GE Aerospace (NYSE:GE) and more, according to Barron’s.
The IPO has reportedly drawn more than $250 billion in investor demand ahead of its June 12 debut, far exceeding its $75 billion target and making it oversubscribed by roughly 3.5 to 4 times.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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