SpaceX is set to launch the largest initial public offering ever, with shares debuting Friday. The company aims to raise roughly twice the $29 billion record held by Saudi Aramco in 2019, valuing the venture at $1.77 trillion. Investors will watch closely as Elon Musk’s firm expands beyond rockets into AI and satellites.

The IPO price is set at $135 per share, meaning the offering could exceed the combined total of all 2023 and 2024 listings. Banks may sell an additional 83 million shares within a month, potentially raising even more capital. This move positions SpaceX as a benchmark for future AI‑heavy public markets.

SpaceX’s focus on artificial intelligence—recently acquiring xAI and a deal for Cursor—adds a new layer to its valuation. Analysts note that current prices rest on optimistic scenarios rather than present profits or revenues. The market will judge whether the $1.77 trillion valuation withstands post‑listing scrutiny.

If the offering succeeds, Musk could become the first trillionaire, and the IPO will signal investor confidence in a company that blends spaceflight, AI, and social media. A sharp drop would expose gaps between hype and fundamentals, echoing the post‑IPO struggles of Uber and Lyft. The outcome will shape future large‑scale listings.