Bank of America to Underwrite SpaceX $75B IPO at $1.8T Valuation Floor; Agilent Shares Jump
BAC•Bank of America is a lead underwriter on SpaceX’s planned IPO, which seeks to raise $75 billion at a valuation floor of $1.8 trillion after trimming an initial $2 trillion target. Agilent Technologies stock rallied to its strongest gain since 2002 after quarterly results provided few new catalysts.
1. SpaceX IPO Underwriting Role
Bank of America is part of a 23-bank syndicate led by Goldman Sachs, Morgan Stanley, Citigroup and JPMorgan in SpaceX’s IPO. The offering aims to raise up to $75 billion while capping the company’s valuation at $1.8 trillion after a downward adjustment from an initial $2 trillion target.
2. Potential Impact on Bank of America’s Fee Income
Underwriting fees from a deal of this magnitude could add several hundred million dollars to Bank of America’s noninterest revenue for 2026. Participation in what would be the largest IPO ever reinforces the bank’s position in mega-deal syndication and may influence its fee pipeline for the remainder of the year.
3. Agilent Technologies Stock Movement
Agilent Technologies reported quarterly results that met expectations but offered few incremental growth drivers, prompting a sharp stock rally. Shares climbed to levels not seen since 2002, reflecting investor enthusiasm despite a lack of standout surprises in the earnings release.
