SpaceX has completed its historic initial public offering, raising a total of $85.7 billion after underwriters exercised the 'greenshoe' overallotment option, according to an announcement made by the company on Monday [1]. The IPO initially raised $75 billion on Thursday, with underwriters including Goldman Sachs and Morgan Stanley opting to purchase an additional 83.3 million shares as part of the overallotment, a move typically made when the stock price rises after debut [1].
The IPO is now the largest ever for a technology company, with the overallotment itself described as larger than almost all previous tech IPOs on record [1]. SpaceX shares were priced at $135 per share and soared 19% on their first day of trading, closing at approximately $161 and pushing the company's valuation above $2 trillion [1]. The momentum continued into Monday, with shares climbing more than 6% during their first full day of trading [1].
Elon Musk addressed employees at SpaceX's Starbase headquarters in Texas, stating that the decision to go public was driven by the need to raise capital for a 'significant growth phase' [1]. The funds raised are expected to be used for the development and operation of AI-powered orbital data centers, a technology Musk has promoted as a solution to the power demands of artificial intelligence, though he acknowledged the risks and unproven nature of space-based data centers [1].
CONCLUSION
SpaceX's record-breaking IPO has set a new benchmark for technology offerings, with strong investor demand reflected in the rapid share price appreciation and the full exercise of the greenshoe option. The capital raised positions SpaceX for ambitious expansion into AI and space-based infrastructure, signaling high market confidence in the company's future growth prospects.