SpaceX has raised $75 billion in the largest initial public offering in history, pricing 555.6 million shares at $135 each. The highly anticipated debut on Friday marks the first time the rockets-to-AI conglomerate will trade publicly on Wall Street.
The IPO is seen as a defining moment for capital markets. Some analysts view it as a "referendum" on Elon Musk's leadership. While most believe the market can absorb the new supply, investors remain cautious about what comes next for the broader bull market.
Polymarket and Ventuals have assigned a $2 trillion valuation to the company onchain, reflecting speculative bets on its future worth. The offering dwarfs previous records in terms of total proceeds raised.
The influx of shares tests the resilience of buoyant equity markets. How SpaceX trades on its first day will signal whether investor enthusiasm for high-growth, founder-led companies endures. The outcome shapes Musk's ability to fund ambitious projects.
Market watchers caution that one company's fortune—even if it's Tesla or SpaceX—does not dictate the entire market's direction. The coming weeks will show whether the IPO marks a high-water mark for the cycle.