SpaceX to List on Nasdaq with USD 1.77 Trillion Valuation

San Francisco (ANTARA) - Space Exploration Technologies Corp., known as SpaceX, has set its initial public offering (IPO) price at USD 135 per share and successfully raised USD 75 billion through the sale of approximately 555.56 million shares, according to US media reports on Thursday (11/6). Reports indicate the IPO gives SpaceX a valuation of around USD 1.77 trillion. SpaceX shares are expected to begin trading on the Nasdaq on Friday (12/6). In terms of the amount raised, this IPO will set a record for a public offering. Based on its valuation, SpaceX will rank among the ten most valuable listed companies in the US. Founded by entrepreneur Elon Musk in 2002, SpaceX operates businesses in space launch services, satellite internet, and artificial intelligence (AI). The company’s IPO has attracted strong market interest, while its high valuation has also sparked discussion among market observers regarding its profit prospects and future growth sustainability. Reports indicate that SpaceX’s listing arrangements deviate from some Wall Street conventions, including setting the IPO price early and reserving a relatively high proportion of shares for retail investors. Musk will retain strong voting control over the company after the IPO. Given Elon Musk’s large stake in SpaceX, the valuation could significantly boost his net worth and make him the world’s first trillionaire.