SpaceX Achieves $85.7 Billion IPO
Space Exploration Technologies (NASDAQ: SPCX) successfully launched its IPO, generating $85.7 billion in proceeds as underwriters quickly sold all available stock. Initial shares were priced at $135 but surged above $200, peaking at $225.64 on June 15 before recently falling 34% from that high. The company’s valuation peaked at around $3 trillion.
In addition to the IPO, SpaceX executed a $25 billion bond offering to bolster its capital. The company is now positioned to expand significantly, having recently acquired AI startup Cursor for $60 billion in stock. Analysts believe that although SpaceX has ambitious growth plans, such as lunar colonization and Mars habitation, its immediate focus will be on profitable ventures like its Starlink internet division.
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