The investment ?would partly prevent dilution of PIF’s existing stake of just under ?1n SpaceX, the sources said.
The rocket maker has been lining up anchor investors ?well ahead of its stock market debut, three other sources said.
The company aims ?to raise a record-breaking $75 billion, which would dwarf previous mega-IPOs such as Saudi Aramco in 2019 and Alibaba in 2014.
SpaceX is trying to gauge investor interest for a deal of this unprecedented ?scale, the sources said, requesting anonymity because the talks are confidential.
No final ?decision has been made, and any investment remains subject to change, the sources cautioned.
SpaceX did not ?respond to ?a request for comment. PIF declined to comment.
Anchor investors are institutional buyers who typically commit to a fixed stake ahead of an IPO roadshow, signalling confidence and helping underpin demand for the offering.
While SpaceX courts big-ticket anchor investors, a significant ?portion of the allocation ?is expected to ?go to wealthy investors served by the underwriting banks, Reuters reported previously.
PIF deepened its ties with Musk’s business empire in November 2025, ?when its AI firm HUMAIN and xAI announced a collaboration ?to deploy ?500 megawatts of data centre capacity in Saudi Arabia.
PIF then invested $3 billion via HUMAIN ahead of xAI’s merger with the social media platform X in March 2025.
SpaceX, based ?in Starbase, ?Texas, submitted confidential IPO paperwork with the SEC recently ?and is targeting a market launch later this year.