SpaceX Completes $75 Billion IPO at $1.77 Trillion Valuation

SpaceX raised $75 billion by issuing 555.6 million shares priced at $135, the largest single IPO on record. The transaction values the company at $1.77 trillion and positions Elon Musk to become the first trillionaire through his retained stake. Official share allocation data and Nasdaq listing filings confirm the pricing and volume.

The debut coincides with AI-driven multiples that have lifted several technology platforms beyond historical earnings benchmarks. Retail order flow in comparable 2023-2025 listings exceeded 35 percent of first-day volume according to FINRA trade reports, a pattern now extended to SpaceX. This concentration amplifies correlated exposure across space, electric vehicle, and AI equities held by the same investor base.

Lock-up expirations scheduled for months six and twelve will release additional shares while government launch contracts remain the dominant revenue driver. Sustained valuation above $1.5 trillion will require either accelerated Starlink cash flow or new defense awards; failure to meet either threshold would test the durability of current pricing.