On June 11, SpaceX announced that it sold 555,555,555 shares at $135 each, raising a total of $75 billion. This valuation places the company at approximately $1.77 trillion.
This IPO surpasses the previous record set by Saudi Aramco in 2019, which raised $29.4 billion.
According to the Wall Street Journal, BlackRock has placed an order for at least $5 billion worth of SpaceX shares, with other major asset managers reportedly submitting similar orders.
Retail investor demand has also exceeded $70 billion, with total investor interest surpassing $250 billion. Musk has expressed a desire to allocate about 30% of the IPO shares to retail investors, as reported by the Journal.
SpaceX's approach to the IPO differs from Wall Street norms. Instead of providing a price range based on demand, the company set a single price of $135 per share.
Trading for SpaceX shares is set to begin on June 12 on NASDAQ under the ticker symbol 'SPCX.' The company plans to use the funds raised to expand its Starlink satellite network, develop next-generation rockets, and build an AI-related space data center.
However, challenges remain despite the strong demand. SpaceX is still operating at a loss, and its valuation reflects significant growth potential in its nascent AI business. Concerns have been raised about Musk's continued control over the company through dual-class shares, prompting scrutiny over its corporate governance.
* This article has been translated by AI.
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