NEW YORK — SpaceX completed what the company and market participants described as the largest initial public offering on record on Friday, raising about $75 billion in its Nasdaq debut and marking a milestone for the aerospace and technology sectors, according to company filings and exchange data.
The company, founded and led by Elon Musk, priced its shares at $135 each before trading began, valuing the space, satellite and artificial intelligence provider at approximately $1.77 trillion, according to the company and Reuters.
SpaceX sold about 555 million shares in the offering, surpassing the previous record for funds raised in an IPO, according to company disclosures and market reports. The shares began trading on the Nasdaq under the ticker symbol SPCX on Friday.
In a statement accompanying the offering, SpaceX said the proceeds would support expansion across its launch services, satellite communications operations and related technology businesses. The company has become a dominant player in commercial space launches and operates the Starlink satellite internet network, which has become a major source of revenue, according to company filings and public statements.
Investor demand for the offering was strong, according to reports from financial media and market participants, reflecting continued interest in large technology listings despite concerns among some analysts about valuations in the sector. Several analysts cited by Reuters said the debut would serve as an important test of investor appetite for upcoming public offerings by other major technology companies.
SpaceX reported significant revenue growth in recent years but has also disclosed losses linked to investment in new technologies and expansion projects, according to company documents cited in market reports. Some investors and analysts have questioned whether the company’s valuation is supported by current earnings, while others point to its long-term growth prospects in space transportation, satellite communications and artificial intelligence-related businesses.
“This is a significant milestone for SpaceX and for public investors seeking exposure to the commercial space sector,” the company said in materials released alongside the offering.
As trading continued on Friday, investors closely monitored the stock’s performance following the record-setting sale. Company officials had not announced any changes to the offering terms, and the transaction remained on track to close under customary conditions, according to the prospectus and exchange filings.
