SpaceX raises $75B in record-breaking IPO

SpaceX raised a total $75 billion in an historic initial public offering (IPO), pricing 555.6 million shares at $135 each with trading set to begin later today on the Nasdaq stock exchange.

The listing is the biggest of all time, more than doubling the value of Saudi company Aramco’s stock market debut in 2019 which raised around $29 billion.

In a filing, SpaceX stated it has granted underwriters a 30-day option to purchase an additional 83 million shares, which could increase the total fundraising to $86 billion at a $1.78 trillion valuation.

Financial Times reported Elon Musk’s rocket, satellite and AI company drew orders more than three times the amount on offer, with demand coming from huge asset managers, gulf sovereign wealth funds, hedge funds and retail investors.

According to the outlet, individual investors placed orders for more than $100 billion and will be allocated around 20% to 25% of the total shares sold.

Musk is apparently keen to place smaller shareholders at the centre of SpaceX’s ownership, leaving fewer shares available for big companies and accounts that tend to be prioritised in IPOs.

Through the funds raised, SpaceX is to pump cash into a plan to establish AI data centres in space, a Musk vision that centres on overcoming energy limitations on earth. The company is also plotting new satellite constellations to fuel Starlink, while it will also pay down debt after taking a $20 billion bridging loan in March.

FT added the $1.78 trillion market value makes SpaceX the priciest of the world’s top 10 valuable companies, with its shares trading at 92 times its $19 billion revenue in 2025.