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SpaceX's initial public offering raised a record-setting $75 billion.
SpaceX priced its initial public offering at $135 per share.
SpaceX stock opened for trading on the Nasdaq at $150 per share, an 11% increase over its IPO price.
SpaceX is pitching a future where it is a diversified business with most of its revenue coming from selling AI software.
SpaceX's initial public offering valued the company at approximately $1.8 trillion, with its market capitalization exceeding $2 trillion after its first day of trading.
Following its IPO, SpaceX's valuation became higher than that of Tesla, Meta, and Saudi Aramco.
Google has a contract with SpaceX to pay nearly $1 billion per month for access to computing power.
Craig Trudell believes it is likely that Tesla will eventually be merged into SpaceX.
The SpaceX IPO was massively oversubscribed, with institutional investors accounting for 80% of the offering and retail investors for 20%.
SpaceX claims its total addressable market is $28.5 trillion, with $26.5 trillion of that attributed to enterprise AI.
SpaceX's long-term business plan is dependent on making its Starship rocket system fully reusable and operational on a regular basis.
Anthropic and OpenAI are both expected to have their public debuts later this year.