SpaceX has done something no company in history has done: put a number on the largest addressable market ever claimed in an S-1 filing. The number is $28.5 trillion — roughly equivalent to the entire annual GDP of the U.S., and SpaceX says it is going after all of it. • TSLA stock is down ahead of the SPCX IPO. See the price action here. Elon Musk's rocket company is set to go public on Friday under the ticker SPCX, targeting a $1.75 trillion valuation and raising $75 billion — the largest IPO in history.Dan Ives of Wedbush Securities broke down what investors are actually buying. At $1.75 trillion, SpaceX is not a typical space bet. It is a $28.5 trillion TAM (Total Addressable Market) play.SpaceX’s TAM BreakdownSpaceX breaks its market into three verticals: Space, Connectivity and AI. Space — the core launch and space-enabled solutions business — is, ironically, the smallest slice at $370 billion.