SpaceX disclosed plans Wednesday to raise $75 billion through an initial public offering expected within weeks, a move that would shatter the global record for largest IPO in history.
The company intends to offer 555.6 million shares at $135 per share, valuing the Elon Musk-led firm at approximately $1.75 trillion. No public company debut has come close to this scale. Saudi Aramco held the previous record with $29.4 billion raised in 2019, followed by Alibaba's $25 billion offering in 2014.
SpaceX currently generates most revenue from Starlink, its satellite internet service. But the company is positioning itself around a far bigger opportunity: artificial intelligence and orbital data centers. SpaceX argues the AI sector represents a $26.5 trillion total addressable market, a claim without independent verification. For perspective, that figure exceeds the entire U.S. gross domestic product of roughly $32 trillion.
Author James Rodriguez: "The valuation math rests on an AI bet so massive it's almost impossible to validate, which makes this one of the riskier mega-offerings in recent memory."
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