Elon Musk's SpaceX pulls off world's largest IPO, valued at $1.77 trillion

SpaceX, the aerospace company founded by Elon Musk, has finalized the world’s largest initial public offering (IPO), raising $75 billion and achieving a valuation of $1.77 trillion. The company priced its shares at $135 each, selling 555.56 million shares ahead of its Nasdaq debut, exceeding Saudi Aramco’s 2019 record of $25.6 billion. The IPO marks a pivotal moment for SpaceX and Musk, solidifying the company’s status among the most valuable publicly traded firms in the U.S., surpassing giants like JPMorgan Chase and Tesla. Musk will retain approximately 82% of SpaceX’s voting power post-IPO, maintaining significant control despite the public listing. The company also allocated 30% of the offering to retail investors, a rare move for such a large deal. SpaceX’s revenue growth is heavily driven by its Starlink satellite internet service, which operates in over 160 countries and territories, serving millions of consumers and government agencies. The company dominates global orbital launches, accounting for over four-fifths of the mass sent into space in the past three years. Additionally, SpaceX recently partnered with Google for cloud services, further strengthening its position in artificial intelligence infrastructure. Despite its record valuation, SpaceX reported losses last year and remains dependent on government contracts and long-term growth projections. Critics question whether its valuation is justified, given competition from rivals like Blue Origin and the company’s reliance on future commercialization of space. The IPO is expected to revitalize the U.S. IPO market, with Goldman Sachs predicting a quadrupling of proceeds to $160 billion by 2026, fueled by high-profile tech listings. Analysts anticipate volatility in SpaceX’s stock debut due to the scale of the offering and strong retail investor interest. The company’s ties to Musk’s xAI venture also highlight its ambitions in artificial intelligence, leveraging its data and computing infrastructure for a strategic edge in the rapidly evolving sector.