Elon Musk’s SpaceX raises record-breaking $75B after pricing IPO at $135 per share

SpaceX priced its initial public offering at $135 per share, raising $75 billion from 555.6 million shares sold, with an additional $11.2 billion possible through underwriter options. Goldman Sachs led the deal alongside Morgan Stanley, JPMorgan Chase, Citigroup, and Bank of America. The valuation of $1.77 trillion makes SpaceX the seventh-largest publicly traded U.S. company and exceeds Tesla’s current valuation of $1.6 trillion. The company will trade on Nasdaq under the ticker 'SPCX' starting Friday, with institutional and individual investors reportedly eager to purchase shares. Hyperliquid, a cryptocurrency betting platform, prices SpaceX shares at $167, suggesting expectations of a 20% first-day pop. SpaceX’s IPO paperwork confirms the company is not yet profitable, with only its Starlink satellite internet service generating revenue—10.3 million global subscribers and $1.4 billion in first-quarter revenue. However, the company’s space and AI segments reported $3.1 billion in operating losses during the same period. Starlink’s expansion relies on SpaceX’s Starship rockets, currently under development and untested with payloads. The company’s merger with xAI, Elon Musk’s AI firm, valued the combined entity at $1.25 trillion earlier this year. Tesla also holds an 18.99 million-share stake in SpaceX, now worth $2.56 billion at the IPO price.