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SpaceX raised $75 billion in the largest initial public offering on record, cementing Elon Musk’s rocket and AI company as one of the world’s most valuable public firms.
The company sold 555.6 million shares at $135 each, giving SpaceX a market value of $1.77 trillion, according to a statement published Thursday. On a fully diluted basis, the listing values the company at about $1.8 trillion.
The deal is more than double the size of Saudi Aramco’s $29.4 billion IPO in 2019, previously the largest listing on record.
SpaceX is expected to begin trading Friday on Nasdaq and Nasdaq Texas under the ticker SPCX.
The IPO places SpaceX among the top 10 public companies globally and makes it larger than Tesla, Musk’s other publicly traded company.
The listing also puts Musk closer to becoming the world’s first trillionaire, with additional performance based share awards tied to aggressive milestones including a $7.5 trillion market capitalization, space based data centers, and a permanent human colony on Mars.
Retail demand played a major role in the offering. Investors placed more than $100 billion in orders for shares, far above the portion reserved for retail buyers.
The listing comes as SpaceX has expanded beyond rockets and Starlink into AI infrastructure following its acquisition of xAI earlier this year.
The company has pitched itself as a central player in space, satellite broadband, computing infrastructure, and artificial intelligence.
That positioning has helped SpaceX capture investor demand for AI linked infrastructure, even as skeptics question whether its valuation is supported by current fundamentals.
The debut will also be watched as a test case for other expected mega listings. Anthropic and OpenAI are expected to pursue public offerings as soon as this year, with potential valuations above $1 trillion each.
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