Space Exploration Technologies Corp.

(NASDAQ:SPCX) raised $85 billion in its blockbuster initial public offering earlier this month.

While much of Wall Street's attention has focused on the company's valuation, a different question may matter just as much for investors: Where will all that money go?

The answer could create opportunities far beyond SpaceX itself.

As SpaceX expands its launch business, scales Starlink's satellite network and continues building artificial intelligence infrastructure through sister company xAI, the IPO proceeds are likely to flow through a sprawling ecosystem of suppliers spanning semiconductors, networking equipment, aerospace materials, power systems and data center infrastructure.