Elon Musk’s SpaceX has officially entered the public market, beginning trading on the Nasdaq under the ticker symbol SPCX in what is being described as the biggest initial public offering in history.
According to The Guardian Nigeria, the aerospace giant raised a staggering $75 billion by selling more than 555 million shares at $135 each, valuing the company at $1.77 trillion and making it the seventh most valuable company in the United States.
Musk said the listing will help fund an ambitious expansion plan, including deploying more than 100,000 satellites, building artificial intelligence data centres in space and accelerating future space exploration projects.
The IPO marks a major milestone for SpaceX, whose Starlink satellite internet business remains its primary profit driver despite decades of heavy investment.
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