SpaceX Announces Pricing for Record-Breaking IPO Offering.

SpaceX's $135 per-share pricing sets the stage for a historic IPO, potentially outpacing Saudi Aramco's 2019 record-breaking debut in terms of value and funds secured.

Elon Musk's SpaceX sets a historic valuation with an IPO price tag of $135 per share, placing its market worth at a staggering $1.77 trillion, eclipsing all previous offerings in record-breaking fashion on Wednesday.

SpaceX's valuation would skyrocket to over 40 percent above its self-assessed worth of $1.25 trillion in February with this IPO price. The massive funding of $74.4 billion from the offering would shatter records, eclipsing even Saudi Aramco's historic public debut in 2019. At that time, Saudi Aramco, the state-owned oil company of Saudi Arabia, raised more than $29 billion and was valued at a staggering $1.7 trillion.

SpaceX's unconventional approach to its IPO avoids setting a preliminary price range, instead opting for a single price point that may or may not be adjusted based on investor demand. This strategy allows the company to maintain control over its valuation and avoid potential fluctuations in share prices. The Nasdaq is poised to welcome SpaceX next week, where it will trade under the ticker symbol SPCX.

SpaceX's IPO would surpass all US offerings from the past 24 months, with a staggering $74.4 billion raised, according to Matthew Kennedy of Renaissance Capital, an expert in IPO markets.

SpaceX's public relations team declined to provide immediate comment on the matter.

The SpaceX IPO serves as a harbinger for other massive public offerings from OpenAI and Anthropic, two AI companies with astronomical valuations nearing $1 trillion. Meanwhile, Anthropic has already submitted its confidential filing on Monday, while OpenAI is poised to follow suit within weeks. These three high-profile listings have the potential to generate unprecedented wealth in Silicon Valley and Wall Street, potentially giving birth to new industry giants.

SpaceX's IPO offering is poised to catapult Mr. Musk into even greater wealth, with his 54-year-old status as the world's richest individual set to be further solidified. The $135 share price translates to a staggering value of approximately $752 billion for his roughly 50 percent stake in the company. Operational milestones must first be met before some of these shares can be liquidated.

The surge in SpaceX's stock value during its initial public offering may catapult Elon Musk to a record-breaking net worth of over $1 trillion.

SpaceX's founder, Elon Musk, revolutionized space exploration with reusable rockets and transformed global communication through Starlink satellite internet service. In February, he expanded his business empire by acquiring xAI, which controlled social media platform X, thereby integrating multiple ventures under a single umbrella. Meanwhile, Musk oversees Tesla and other companies in addition to SpaceX.

Over the past two decades, Elon Musk has leveraged SpaceX as a financial safety net, utilizing company loans and relying on it to bail out several struggling ventures tied to him. This arrangement was made possible due to Mr. Musk's dominant control over SpaceX, which is reflected in his ownership of more than 85 percent of its shareholder votes, as stated in the company's official filings.

SpaceX's financial profile has long been shrouded in secrecy. The company shed light on its financial situation last month with the release of an I.P.O. prospectus. According to the document, SpaceX incurred a staggering loss of $4.9 billion in the past year, a stark contrast to the $791 million profit it recorded in 2024 due to significant investments in artificial intelligence technology. Meanwhile, revenue skyrocketed to $18.7 billion last year, representing a substantial 33 percent increase from the preceding year.

SpaceX intends to utilize funds generated by its initial public offering for ambitious projects such as deploying AI data centers in space, constructing a lunar manufacturing facility, and ultimately establishing human settlements on the planet Mars.

A lawsuit was filed by The against OpenAI and Microsoft in 2023, alleging unauthorized use of copyrighted news material tied to artificial intelligence technology.

Equity researcher Nicolas Owens notes that despite the massive scale of SpaceX's IPO, it wouldn't be astonishing to see records shattered multiple times in the future. This is particularly evident when comparing SpaceX's size to other recent high-profile listings like OpenAI and Anthropic.

Historically, a trillion-dollar market capitalization was an unprecedented milestone for companies going public, but now such valuations are becoming increasingly common.

Reporters Lauren Hirsch and Maureen Farrell filed their story from New York.