SpaceX set to begin trading after raising $75 billion in record IPO
Summary
SpaceX has started trading on the stock market after raising $75 billion in the largest initial public offering (IPO) ever. The company is valued at $1.77 trillion and plans to fund projects like colonizing Mars and building solar-powered data centers in space.Key Facts
- SpaceX priced its shares at $135 each in the IPO.
- The IPO raised $75 billion, surpassing Saudi Aramco's previous record of nearly $26 billion.
- SpaceX’s shares began trading on Nasdaq under the symbol "SPCX."
- The company owns businesses beyond rockets, including the AI company xAI and the satellite internet provider Starlink.
- Elon Musk owns about 42% of SpaceX and holds 82.4% of voting power, maintaining control over the company.
- SpaceX reported $18.7 billion in revenue last year but is not yet profitable.
- The IPO makes Elon Musk a trillionaire on paper due to his large shareholdings.
- SpaceX sees a market opportunity of more than $28 trillion, with most expected growth coming from its AI business, xAI.
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