Elon Musk’s aerospace venture has secured a record-breaking $75 billion through its initial public offering, establishing a new benchmark for American capital markets. This massive influx of capital positions the satellite and AI specialist as one of the most valuable corporate entities globally as it prepares for its Nasdaq debut.
When trading commences this Friday, SpaceX will enter the Nasdaq as the seventh-largest company in the United States by market capitalization. At a valuation of $1.77 trillion—derived from 13.08 billion outstanding shares—the firm has surpassed the nominal record previously set by Saudi Aramco’s 2019 offering.
While Aramco’s inflation-adjusted figures remain higher, SpaceX’s $135-per-share pricing underscores significant investor appetite despite the company reporting a loss in the previous fiscal year and generating less revenue than its mega-cap peers.
The offering was characterized by several departures from traditional Wall Street protocols. In a move that bypassed standard post-market announcements, the company disclosed its pricing at 3 p.m. EDT on Thursday through a Securities and Exchange Commission filing while exchanges were still active. Furthermore, Musk allocated 30% of the 555.56 million shares specifically for retail investors and finalized the share price prior to the customary investor roadshow.
This milestone follows months of preparation for the launch provider. The current valuation could escalate further if underwriters choose to exercise their overallotment options to sell more shares within the next 30 days. Markets now await the start of regular trading to gauge the immediate secondary market response to this historic listing.
