SpaceX will begin trading on the US stock market today after completing a record $75 billion initial public offering. The company sold 555.6 million shares at $135 each, achieving a valuation near $1.8 trillion. This marks one of the largest IPOs in US history and equals the combined value of the 29 biggest offerings since 2000, adjusted for inflation. Strong demand from institutions and retail investors exceeded three times the shares offered. Underwriters received an option to purchase an additional 83.3 million shares, potentially increasing the total to about $86 billion. Despite concerns over valuation at 92 times last year’s revenue, shares are expected to open on Wall Street today. Analysts note the offering could make Elon Musk the world’s first trillionaire if the stock performs strongly. A protest featuring a large inflatable figure appeared in New York yesterday, organized by a coalition highlighting concerns over an AI tool’s use in generating explicit images. Lawsuits have been filed alleging misuse of the technology to create unauthorized material involving minors. UK authorities have also taken legal steps related to similar claims. The company’s listing follows months of preparation, with trading set to begin at 2:30pm BST. Additional data releases today include the UK GDP report at 7am BST and the University of Michigan Consumer Sentiment survey at 3pm BST.
