By SHI JING in Shanghai and MA SI in Haikou |
chinadaily.com.cn |
SpaceX's blockbuster initial public offering has grabbed attention worldwide not only for its unprecedented size, but also for what it implies for the commercial aerospace industry and the escalating politicization of the technological innovation that it underscores.
SpaceX saw its price spike 19 percent on its Nasdaq debut even as the $75 billion IPO became the world's biggest ever. The stock closed at $160.95, buoying the company's market cap to $2.1 trillion. The company's founder, Elon Musk, thus became the world's first trillionaire with his personal wealth surging to $1.1 trillion, according to Forbes.
SpaceX said in its prospectus that the proceeds from the IPO will be used to expand its artificial intelligence business and fund its launch infrastructure and satellite constellations.
