Key Points
SpaceX plans to launch its initial public offering (IPO) as soon as June 2023, aiming to raise up to $75 billion at a valuation of $2 trillion. This would make it one of the largest IPOs in history, surpassing major companies like Nvidia, Alphabet, Apple, Microsoft, and Amazon.
Elon Musk’s company intends to use the IPO proceeds to expand its Starlink satellite network and develop rocket technology as well as artificial intelligence (AI) initiatives. Among its shareholders, Google held a 6.11% stake in SpaceX at the end of 2022, which could be worth $100 billion if SpaceX achieves its valuation ambitions.
In its previous quarter, Google generated over $40 billion in operating income, bolstered by its cloud business, which saw a 48% revenue increase to $17.7 billion year-over-year.
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