SpaceX raised $75 billion in the largest initial public offering in history, with shares surging nearly a fifth on the first day of trading. The milestone pushed Elon Musk’s net worth past $1 trillion, making him the world’s first trillionaire, according to the Financial Times.
Elon Musk raced to take SpaceX public earlier than planned as the artificial intelligence boom accelerated demand for the company’s rocket and AI technologies. Bloomberg reported that what was originally envisioned as a post-Mars-flight offering was pulled forward by the AI-driven market frenzy.
Shares rose by nearly a fifth after the $75 billion raise, per the Financial Times. BeInCrypto noted that the IPO tests broader stock market liquidity, with S&P 500 charts pointing to a potential retest of 7,000 before any sustained trend continuation.
The record float could absorb significant market liquidity, potentially pressuring indices in the short term. Investors are watching whether the S&P 500 can hold above 7,000 as capital rotates into the newly public giant.
Analysts remain split on the offering’s broader market impact. Some warn the sheer size of the raise may drain liquidity from other sectors, though others argue the strong debut signals enduring appetite for high-growth AI-adjacent names.