Elon Musk’s SpaceX has closed its record‑breaking IPO, raising $75 billion and listing on Nasdaq under SPCX. Shadow‑market derivatives hint at a 35 % first‑day lift, signaling a sharp rally for the new ticker. Investors eye the move as the company edges toward a $1 trillion valuation today.

The IPO drew a staggering $100 billion in retail bids, dwarfing many Asian tech offerings, yet regulators barred mainland Chinese and Hong Kong investors to protect US critical‑technology exports. The move underscores the high demand for SpaceX shares and the tightening of cross‑border capital flows by Washington.

Sustainability‑focused funds raise alarms, noting Musk controls over 80 % of voting rights and key board posts, limiting governance reform. Marcela Pinilla of Zevin Asset Management warned the company “cannot be sued, cannot be sold, cannot be contested.” Such concentration raises risk flags for institutional investors.

With trading set to begin, market participants anticipate a steep opening surge, but the concentration of power and regulatory restrictions may temper long‑term valuation gains. SpaceX’s debut marks a milestone for private‑company public markets and signals a new benchmark for future mega‑IPOs in global economy.