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.
