SpaceX started trading the biggest trading event on Friday under the ticker SPCX after completing the largest initial public offering (IPO) in history.
The company secured the funding of $75 billion by selling 555.6 million shares at $135 each at a valuation of $1.77 trillion, solidifying its position as one of the most valuable companies in the United States.
With SpaceX's biggest financial event, the company's owner Elon Musk is poised to become the first trillioniare of this world.
Investor demand has been exceptionally strong. Pre-IPO trading in gray markets and derivatives suggested valuations between $2.3 trillion and $2.4 trillion, suggesting profits of over 35% above the IPO price.
A report suggested retail investors submitted more than $100 billion in orders, reflecting strong enthusiasm for the company’s combination of space technology, satellite communications and artificial intelligence.
Founded by Elon Musk in 2002, SpaceX has evolved from a reusable rocket company into a broader technology enterprise.
The company’s Starlink satellite internet division is currently its primary profitable business. Early this year, SpaceX bought Musk’s AI startup xAI, adding Grok AI models, social media platform X, and data centers to its portfolio.
Musk stated the IPO will assist fund ambitious growth plans such as diversifying Starlink, deploying over 100,000 satellites and developing space-based AI data centers.
However, some credible analysts mentioned that orbital data centers remain largely experimented and experience major technical issues.
Despite concerns over valuation and future growth assumptions, investors view the IPO as a significant test for trillion-dollar technology offerings and a possible catalyst for future listings.
