SpaceX shattered records Thursday, raising $75 billion in the largest initial public offering in history. The company sold 555.6 million shares at $135 each, giving it a market value of $1.77 trillion, according to Bloomberg. Trading on the Nasdaq is set to begin Friday.
Elon Musk now stands on the verge of becoming the world's first trillionaire, fueled by the blockbuster listing. The CEO also addressed employees of ASML this week, calling the Dutch semiconductor equipment maker a great company, signaling a broader push into chip manufacturing as SpaceX goes public.
The offering allocated a percentage in the low 20s to retail buyers, a person familiar with the matter told CNBC. The decision to cap individual investor access comes amid massive demand for shares of the Elon Musk-led venture.
The IPO vaults SpaceX into the top ranks of the largest public companies globally, reshaping the space industry's financial landscape. Analysts expect the infusion of capital to accelerate Starship development and satellite internet deployment, pressuring competitors like Blue Origin and United Launch Alliance.
Some observers caution that the company's ambitious chip manufacturing plans and space ventures carry significant execution risk. One stock analyst argued Warren Buffett would likely sit out the IPO, citing the high valuation and speculative nature of the business.