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SpaceX conducted a record-setting Initial Public Offering, raising $75 billion.
SpaceX's Initial Public Offering was priced at $135 per share.
SpaceX stock began trading on the Nasdaq at $150 per share, an 11% increase over its IPO price.
SpaceX's IPO valued the company at approximately $1.8 trillion.
Following its IPO, SpaceX's market capitalization exceeded that of Tesla, Meta, and Saudi Aramco.
Google has a contract with SpaceX valued at nearly $1 billion per month, contingent on SpaceX delivering its promised computing power.
Craig Trudell believes it is likely that Tesla will eventually be merged into SpaceX.
The SpaceX IPO was massively oversubscribed by both institutional investors, who accounted for 80% of the offering, and retail investors, who accounted for 20%.
Elon Musk, CFO Bret Johnson, and President Gwynne Shotwell directly controlled and dictated the terms of the SpaceX IPO, rather than the bankers.
SpaceX is pitching a future business model where the majority of its operations will be selling AI software.
SpaceX claims its total addressable market is $28.5 trillion, with $26.5 trillion of that being in enterprise AI.
SpaceX's long-term AI ambitions are predicated on the successful regular and reusable operation of its Starship launch system.