SpaceX Launches Largest IPO in History
Space Exploration Technologies (NASDAQ: SPCX) has completed the largest initial public offering (IPO) ever, raising $75 billion by offering 555 million shares at $135 each. This milestone follows an additional $10.7 billion raised from underwriters. Despite this, the public float remains small relative to the company’s market capitalization of over $2 trillion, leading to volatility in stock prices following its trading debut.
In a bold move, SpaceX aims to build a massive 11-million-square-foot factory in Bastrop, Texas, called “Gigasat,” to produce AI compute satellites on an unprecedented scale. The company plans to have 1 gigawatt (GW) of AI satellites in orbit by the end of 2027 and projects growth to 1 terawatt (1,000 GW) by the end of 2030, potentially requiring up to 6.67 million satellites. The design for these satellites will feature a wingspan of 70 meters, significantly larger than its current Starlink satellites.
SpaceX’s ambitious plans involve deploying its AI satellites in a higher sun-synchronous orbit, improving solar power predictability but making the satellites more visible at night. As of 2025, the company accounted for approximately 80% of U.S. space launches, highlighting its dominant position in the industry.
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