Tesla IPO said to be almost four-times oversubscribed

Reuters reports that the SpaceX IPO has attracted more than $250 billion of investor demand, nearly four times the amount being offered, though the figure reflects indications of interest rather than firm bids. The company is selling just 5% of equity at a $1.75 trillion valuation, underscoring intense speculative appetite around Elon Musk-linked assets. The article argues the strong IPO reception is helping improve broader risk sentiment, with the Nasdaq trimming its losses to 1.1% from more than 2% and the Russell 2000 turning positive again. Market impact is more about sentiment spillover than direct fundamentals: a high-profile oversubscribed offering is being read as supportive for growth stocks and the tech-heavy Nasdaq.