Saudi PIF Eyes SpaceX — But History Offers A Warning

Benzinga04-04

But if history is any guide, getting in early doesn't always mean getting it right. PIF has played in U.S. IPOs before. Chart created using Benzinga Pro That momentum didn't last. Coupang eventually ...

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The trajectory is familiar: strong debut, sharp unwind, and a long road to recovery.That backdrop makes the potential SpaceX investment more interesting.A $5 billion anchor role would mark a step up in both size and visibility for PIF, compared to its more measured participation in past listings.And unlike Coupang, SpaceX comes with a different kind of narrative — one tied to private market scarcity, founder premium, and long-term optionality in sectors like satellite internet and space infrastructure.IPO allocations — even in marquee names — don't guarantee returns.Timing, valuation, and post-listing dynamics often matter more than access itself.PIF may be lining up for one of the most anticipated IPOs in years.But if Coupang is any reminder, even the biggest, bolde","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"XOVR":"ERShares Private-Public Crossover ETF","DXYZ":"Destiny Tech100 Inc","UFO":"Procure Space ETF"},"translate_title":"沙特PIF关注SpaceX——但历史发出了警告","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UFO":0.6,"DXYZ":1.5,"XOVR":1.5},"content_text":"But if history is any guide, getting in early doesn't always mean getting it right.\nPIF has played in U.S. IPOs before.\nChart created using Benzinga Pro\nThat momentum didn't last.\nCoupang eventually fell to nearly $8, wiping out a significant chunk of its post-IPO value, and even now trades well below its early highs. The trajectory is familiar: strong debut, sharp unwind, and a long road to recovery.\nThat backdrop makes the potential SpaceX investment more interesting.\nA $5 billion anchor role would mark a step up in both size and visibility for PIF, compared to its more measured participation in past listings.\nAnd unlike Coupang, SpaceX comes with a different kind of narrative — one tied to private market scarcity, founder premium, and long-term optionality in sectors like satellite internet and space infrastructure.\nStill, the core lesson holds.\nIPO allocations — even in marquee names — don't guarantee returns. \nTiming, valuation, and post-listing dynamics often matter more than access itself.\nPIF may be lining up for one of the most anticipated IPOs in years.\nBut if Coupang is any reminder, even the biggest, boldest listings can take investors on a very different ride once the hype fades.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2624666376","isCrawlerRequest":true}