SpaceX set its IPO price at $135 per share, valuing the rocket and AI maker at $1.77 trillion and positioning it as the largest public offering ever. The pricing would raise $74.4 billion, dwarfing the 2019 Saudi Aramco float that collected $29 billion. Shares are slated to begin trading on Nasdaq under the ticker SPCX next week.

Investors see the float as a bellwether for upcoming mega‑IPOs from AI firms such as OpenAI and Anthropic, both courting valuations near $1 trillion. If SpaceX’s stock jumps on debut, Elon Musk’s roughly 50 percent stake could exceed $750 billion, potentially making him the world’s first trillionaire. Musk cannot offload the shares until the company meets certain operational milestones.

The prospectus revealed a $4.9 billion loss in 2025, contrasted with $18.7 billion in revenue that grew 33 percent year‑over‑year, underscoring heavy spending on AI and Starlink. Funds from the IPO will finance moon‑shot projects, including orbital AI data centers, a lunar factory and crewed Mars missions. The offering reshapes market expectations for tech valuations and capital flows.

Analysts at Renaissance Capital note the $74.4 billion raise equals more than all U.S. IPO proceeds combined over the past two years, highlighting the scale of capital returning to Wall Street. The single‑price approach, bypassing a traditional price range, signals strong confidence from Musk and underwriters that demand will sustain the lofty valuation. The market will now gauge whether the pricing holds as trading begins.