SpaceX Prices Record-Breaking IPO at $135 Per Share, Valued at $1.77 Trillion

NEW YORK, ( news agency) – SpaceX (SPCX.O), opens new tab on Thursday priced the biggest-ever U.S. initial public offering at $135 per share, making Elon Musk’s rocket and spacecraft manufacturer one of the world’s most valuable companies.
The IPO raised a record $75 billion on ​the sale of 555.56 million shares, valuing the space, satellite and AI provider at $1.77 trillion, a record .Thursday’s pricing caps off a ‌months-long effort that realized Musk’s most ambitious project yet even as he stood a handful of financial traditions on their heads, and as some analysts question whether its lofty valuation is justified.
SpaceX will rank seventh among U.S.-listed firms when its shares begin trading on the Nasdaq on Friday, though it lost money last year and other mega-caps far outpace its revenue.
That values the company more highly than firms as varied as JPMorgan Chase (JPM.N), opens new tab, Berkshire Hathaway (BRKa.N), opens new tab and Eli Lilly (LLY.N), opens new tab, as well as tech giants such as Meta Platforms (META.O), opens new tab and Musk’s own Tesla (TSLA.O)