tech
SpaceX raising $75 billion in record-setting IPO as Nasdaq debut awaits
SpaceX is selling 555.6 shares at $135 a piece, raising $75 billion in the largest IPO on record.
TL;DR
- SpaceX plans to raise $75 billion in an IPO, setting a new record.
- The company is selling 555.6 million shares at $135 each, valuing SpaceX at $1.77 trillion.
- SpaceX's revenue increased 15% to $4.69 billion in Q1, but it recorded a net loss of $4.28 billion.
- Capital expenditures reached $10.1 billion in Q1, with the majority allocated to AI.
- The company has a cumulative deficit of around $41.3 billion since its founding.
- Elon Musk's stake is valued at $866.5 billion, potentially making him the world's first trillionaire.
- Starlink is the company's only profitable unit.
- Oppenheimer and New Street Research initiated coverage with positive price targets.
- Other AI companies like Anthropic and OpenAI are also preparing for IPOs.