Musk's SpaceX raises $75 billion in largest IPO ever

Elon Musk's SpaceX has achieved a landmark feat, raising a targeted $75 billion in its Initial Public Offering (IPO) on Thursday. The share price was set at $135, propelling the space exploration, satellite, and artificial intelligence company to a staggering valuation of $1.77 trillion. This makes it the largest IPO in history, solidifying SpaceX's position among the world's most valuable corporations.

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The IPO parade, which now looks like it's turning into a stampede, has been coming for a while. You could argue there were flickers of it as early as last year, but it never fully materialized into a broad wave of companies. SpaceX is going to be the bellwether.

Shares are slated to commence trading on the Nasdaq exchange on Friday. Industry experts are closely watching the IPO, with many identifying SpaceX as a prime growth stock. Mark Klein, CEO of Suro Capital, described the IPO surge as a potential "bellwether" for a broader wave of company listings.

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From our perspective, it is definitely an AI company, but we're focused on the benefits, scale, and cost reductions that could come from building data centers in space and from making Starship fully reusable. They're not there yet. They're saying the second half of 2026, but that would be a game changer in our view.

Analysts highlight SpaceX's diverse potential, from building data centers in space to the full reusability of its Starship rockets, which could be a "game changer" if realized by the second half of 2026. The Starlink satellite internet service is also seen as a significant profit generator with a compelling total addressable market. However, some strategists, like Jay Woods, advise caution, noting that high-profile IPOs often experience an initial surge followed by a price correction. He warned that retail investors might be particularly vulnerable if they chase the stock in the secondary market after a significant run-up.

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SpaceX is the ultimate growth stock. I think this is a company with significant growth potential ahead of it. It's definitely going to be a long-term story, and I think it will take time for the stock to find its footing in the public markets. But there are a lot of exciting opportunities ahead.