LAUREN HIRSCH2026年6月5日纽约高盛总部大堂内的SpaceX标识。 Kena Betancur/BloombergAt Goldman Sachs’s Manhattan headquarters, rocket ships have taken over the lobby.在高盛位于曼哈顿的总部，大堂已被火箭模型占据。Not to be outdone, Bank of America is planning to light up the spire atop its Midtown offices on Thursday night to resemble a rocket taking off.美国银行也不甘示弱，计划在周四晚上点亮其中城写字楼的尖顶，使其看起来像正在发射的火箭。A few blocks away, JPMorgan Chase will host a SpaceX sales pitch to thousands of clients at its Park Avenue headquarters. It will broadcast to 90 bank branches and offices across 26 states, some of which will close early for the event. The bank’s chief executive, Jamie Dimon, will be there to sell the deal to the crowd himself.就在几个街区之外，摩根大通将在其公园大道总部为数千名客户举办一场SpaceX推介会。该活动将向分布在26个州的90家银行分支机构和办公室进行转播，其中部分机构将提前下班。摩根大通首席执行官杰米·戴蒙将亲自到场，向众人推销这笔交易。There has never been a larger initial public offering than that of SpaceX, Elon Musk’s rocket maker and artificial intelligence company, and people involved in the sales effort who were not allowed to speak publicly said Wall Street’s efforts to sell the I.P.O. had been just as extraordinary.埃隆·马斯克的火箭制造和人工智能公司SpaceX即将进行的首次公开募股规模空前。参与销售工作且不便公开发言的人士表示，华尔街为推销此次IPO所做的努力也同样惊人。SpaceX’s I.P.O., expected next week, is a high-stakes assignment for the 23 banks and brokerage firms that Mr. Musk has hired to sell shares to investors. The bankers are selling the deal to every possible corner of the investment world, from giant asset managers like BlackRock to individual buyers on Reddit.SpaceX的IPO预计将于下周进行，这对马斯克聘请的23家银行和经纪公司来说是一项非同小可的任务。这些银行家正向投资界的每一个角落推销这笔交易，从贝莱德等大型资产管理公司，到Reddit上的散户投资者。At stake are the more than $500 million in fees that the banks will collect for their work on SpaceX. But the banks also need to ensure that Mr. Musk’s deal is an unequivocal success to boost confidence in two other mega-offerings of public stock expected in the coming months: OpenAI and Anthropic.此交易涉及的银行费用超过5亿美元。但银行还需要确保马斯克的这笔交易取得无与伦比的成功，以提振市场对即将到来的另外两只超级IPO——OpenAI和Anthropic的信心。On Wednesday, SpaceX set the price for its I.P.O. at $135 a share, which would value the company at $1.77 trillion and make it the largest public offering ever.周三，SpaceX将其IPO价格定为每股135美元，按此定价，公司估值将达到1.77万亿美元，成为有史以来规模最大的公开募股。At that price, SpaceX would raise $74.4 billion from the offering, and its valuation would be more than 40 percent higher than the $1.25 trillion that it valued itself at in February. The current I.P.O. record is held by Saudi Aramco, Saudi Arabia’s state-owned oil company, which was valued at $1.7 trillion and raised more than $29 billion when it went public in 2019.以该价格计算，SpaceX将通过此次IPO募集744亿美元，其估值比今年2月自估的1.25万亿美元高出40%以上。目前的IPO纪录由沙特阿美保持，该公司2019年上市时估值1.7万亿美元，募资超过290亿美元。“Even if they were giving away gold bricks” the sales effort would be “massive,” given the amounts SpaceX is looking to raise, said Edward Best, a partner in capital markets at the law firm Willkie Farr & Gallagher.威尔基·法尔与加拉格尔律师事务所资本市场合伙人爱德华·贝斯特表示，“即使他们是在送金砖，”考虑到SpaceX计划募集的金额，推销力度也必然是“巨大的”。SpaceX did not immediately respond to a request for comment.SpaceX暂未回应置评请求。The preparation has been brewing for weeks. SpaceX’s bankers have already had a number of “testing the waters” conversations with potential major investors. Such conversations are not atypical, but the size of the multibillion-dollar checks being discussed are.准备工作已持续数周。SpaceX的银行家们已经与潜在的大型投资者进行了多次“试水”谈话。此类对话并不罕见，但所讨论的数十亿美元支票规模却非同寻常。Unlike a traditional roadshow in which companies crisscross the country to pitch investors, SpaceX is planning more discreet settings for its largest potential investors. In the coming days, bankers at Morgan Stanley and Goldman Sachs will invite investors to their Manhattan offices to privately sell them on the deal, three people familiar with the plans said.与传统上公司巡回全国向投资者推介的路演不同，SpaceX计划为最重要的潜在大投资者安排更私密的场合。据三位熟悉计划的人士透露，未来几天，摩根士丹利和高盛的银行家将邀请投资者前往其曼哈顿办公室，私下向他们推销这笔交易。It’s unclear whether Mr. Musk will attend any of these meetings, but he will nonetheless be the star attraction. Part of the pitch is his stature as a once-in-a-lifetime visionary and his company, which envisions the potential colonization of Mars, as a multigenerational deal.目前尚不清楚马斯克是否会出席这些会议，但他无疑将是最大的亮点。推介内容的一部分就是他作为百年一遇的创想者的地位，以及他的这家致力于火星殖民的公司的跨世代投资价值。The bankers are projecting a take-it-or-leave-it attitude to investors. Instead of going through a lengthy back-and-forth to set a range of prices for the I.P.O., the banks landed on $135 a share, which investors either have to accept or sit out.银行家们对投资者采取“没商量”的态度。他们没有经过漫长的讨价还价来设定IPO价格区间，而是直接确定每股135美元，投资者要么接受这个价格，要么退出。SpaceX also decided to forgo disclosing historical quarterly earnings in its I.P.O. registration documents, as companies traditionally do.SpaceX还决定不在IPO注册文件中披露传统公司通常会提供的历史季度收益数据。“For a fast-growing company, you would typically expect to see the quarterly breakdown,” said Matt Kennedy, a senior I.P.O. market strategist at Renaissance Capital. He added that the lack of extensive quarterly numbers indicated that the company’s view should largely be considered through longer-term lenses.复兴资本高级IPO市场策略师马特·肯尼迪表示，“对于一家快速成长的公司，人们通常会期待看到季度细分数据。”他补充说，缺乏详细季度数据表明，应主要通过长期视角来看待该公司。Everyday investors are expected to play an inordinately large role in the offering, making up some 30 percent of the buyers. That reflects both Mr. Musk’s fan base among day traders and other individual investors and the large amount of money SpaceX is looking to raise.散户投资者预计将在此次IPO中扮演异常重要的角色，占买家总数的约30%。这既反映了马斯克在日间交易者和其他个人投资者中的拥趸之众，也反映了SpaceX希望募集的巨额资金规模。Fidelity said on Thursday that it would facilitate purchases in SpaceX’s I.P.O. for customers with at least $2,000 in a retail brokerage account, less than it usually requires for public offerings.富达投资周四表示，它将为零售经纪账户中至少有2000美元的客户提供购买SpaceX的IPO股份服务，这一门槛低于其通常对公开发行设定的要求。On Wednesday, Fidelity hosted a webinar for its legions of 401(k) and other customers about how to “get in early” on an I.P.O.周三，富达为其大量401(k)和其他客户举办了一场网络会议，介绍如何在IPO中“早早入场”。While these sorts of events may help build enthusiasm, most of the individual buyers are likely to be very wealthy investors who can afford a significant number of shares at $135 apiece, Mr. Best said. SpaceX has already hosted some prospective high-net-worth investors on field trips to its campus in Hawthorne, Calif., to show off the technology it uses to design and assemble rockets.贝斯特表示，虽然这类活动可能有助于营造热情，但大多数个人买家很可能仍是极为富有的投资者，他们有能力以每股135美元的价格购买大量股份。SpaceX已组织部分高净值潜在投资者前往其位于加州霍桑的园区进行实地考察，展示其设计和组装火箭所使用的技术。The banks are doing what they can to ensure that they corral as many of these investors as possible. About 100 of Bank of America’s financial advisers recently squeezed into a room at the bank’s headquarters for a training on how to sell SpaceX I.P.O. shares to their high-net-worth clients.各银行正竭尽所能吸引尽可能多的这类投资者。最近，美国银行约100名财务顾问挤在总部的一间会议室，接受如何向高净值客户推销SpaceX IPO股份的培训。Mr. Dimon will be joined for his pitch on Thursday by Mary C. Erdoes, the head of his bank’s asset and wealth management unit. SpaceX’s president and chief operating officer, Gwynne Shotwell, and its chief financial officer, Bret Johnsen, are also expected to address the crowd. They may even walk by the sculpture of a Promethean spire by the artist Dustin Yellin sitting in the lobby.周四，杰米·戴蒙将与该银行资产与财富管理业务负责人玛丽·埃尔多斯一同进行推介。SpaceX总裁兼首席运营官格温·肖特韦尔以及首席财务官布雷特·约翰森预计也将向现场观众致辞。他们甚至可能会走过大厅里由艺术家达斯汀·耶林创作的普罗米修斯尖顶雕塑。Ms. Shotwell and Mr. Johnsen will have a busy day regaling investors. Also on Thursday, they are set to speak at the Bank of America headquarters to some 5,000 clients.肖特韦尔和约翰森周四将会非常忙碌。他们还将在美国银行总部向约5000名客户发表讲话。Bank of America is calling its gatherings “launch parties.”美国银行将其举办的这些活动称为“发射聚会”。Lauren Hirsch是《纽约时报》记者，报道华尔街和华盛顿的交易及其推手。翻译：经雷点击查看本文英文版。