Elon Musk’s SpaceX has officially completed the largest initial public offering in Wall Street history, raising a staggering $75 billion.
The company priced 555.6 million shares at $135 each, pushing the space exploration and satellite giant to a monumental $1.75 trillion market valuation.
Investor demand for the debut was overwhelming, drawing more than $250 billion in orders and leaving the book up to four times oversubscribed.
In a rare move for a mega-cap listing, a significant 20% to 25% chunk of the shares has been earmarked specifically for retail buyers.
The influx of capital will fund SpaceX's massive next phase of growth, heavily targeting orbital AI data centers and deep-space infrastructure.
Set to trade on the Nasdaq under the ticker SPCX, the record-breaking float has also officially crowned Elon Musk as the world's first trillionaire.
Despite the record-breaking capital raised, financial filings reveal SpaceX actually operated at a steep net loss of $4.94 billion last year.
Lead underwriters are justifying the high-risk price tag by forecasting a massive 100-fold surge in space-based AI data revenues by 2030.
Independent market analysts have already issued overvaluation warnings, claiming the stock's actual fundamental value sits much closer to $63 a share.
Political pushback has also hit the debut, with U.S. Senator Elizabeth Warren formally petitioning the SEC to investigate and delay the listing.
Even as public shares trade hands, Elon Musk has given up no corporate control, retaining a dominant 82.4% of total voting power.
To lock down the initial ledger, bankers heavily prioritized deep-pocketed sovereign wealth funds from Saudi Arabia, Qatar, and Kuwait.
Comments
Moderated before publishing. Your email stays private.