Elon Musk’s SpaceX has pulled off the largest IPO ever, raising $75 bn by selling 555.6 million shares at $135 each. The launch comes as the firm prepares to trade on the New York Stock Exchange tomorrow, positioning the rocket maker alongside the likes of Meta and Saudi Aramco.

Underwriters can push the total to $86 bn if they exercise a greenshoe option, pushing SpaceX’s valuation to $1.78 trillion. Retail demand dwarfed institutional orders, with individual investors bidding over $100 bn for roughly a quarter of the shares. Musk’s strategy keeps small shareholders close to the company’s core.

The IPO fuels a surge in AI‑linked stocks, as investors chase companies riding the AI wave. SpaceX’s debut may set the stage for Anthropic and OpenAI to list later this year. With its valuation topping $1.7 trillion, the company’s public debut will likely drag millions of ordinary savers into Musk’s orbit.

Market watchers note that SpaceX’s entry could shift index compositions, pulling the company into major benchmarks like the S&P 500. Analysts warn that the firm’s valuation, driven by speculative demand, may not reflect underlying cash flow, hinting at possible volatility once the market digests the earnings model. Investors will monitor the first trading day closely.