SpaceX officially prices shares at $135 in the largest IPO ever

SpaceX has made headlines by officially pricing its shares at $135 each, marking a significant milestone in the financial world. Elon Musk’s ambitious space and AI enterprise has successfully raised a staggering $75 billion from its underwriters, who are set to initiate marketing on the Nasdaq stock exchange starting Friday. With the issuance of 555.6 million shares, this IPO stands as the largest in history, surpassing the previous record held by Saudi Aramco’s $24.9 billion debut in 2019. At this valuation, Musk is on track to potentially become the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp., will trade under the ticker symbol SPCX. As trading commences, the share price is anticipated to fluctuate based on market dynamics. Reports indicate that both institutional investors and retail buyers are eager to acquire shares in the 24-year-old firm. If demand is as high as predicted, underwriters have the option to release an additional 83.3 million shares, which could bring in another $11 billion at the initial price. Interestingly, a crypto betting platform, Hyperliquid, is currently valuing SpaceX shares at $167, indicating a strong expectation of a 20% increase in price on the first day of trading. However, questions linger regarding how SpaceX will sustain its impressive valuation over the long term. The company has an ambitious agenda ahead, including groundbreaking projects such as the world’s largest reusable rocket and plans for a new chip fabrication facility. This is a story that continues to unfold.