SpaceX Raises $75 Billion in Record IPO

SpaceX went public on record terms Thursday, raising $75 billion in an initial public offering that immediately pushed the rocket and artificial intelligence company into the ranks of the world's largest corporations.

The stock climbed 19% during its first day of trading, reflecting investor demand for shares in Elon Musk's aerospace venture. The IPO surpassed previous records for the largest offering ever conducted.

Musk, SpaceX's chief executive and largest shareholder, stands to gain substantial wealth from the public listing. Financial analysts suggested the offering could push his net worth beyond $1 trillion, though such projections depend on the ultimate valuation of his stake and the company's continued stock performance.

SpaceX, founded in 2002, operates the Starship rocket system and develops artificial intelligence technologies. The company has grown to become a central player in commercial spaceflight and government contracts with the U.S. military and NASA.

The IPO brings the private company into public markets after two decades operating behind closed doors. Investors who had backed the company during its private funding rounds stood to profit from the valuation jump that typically accompanies a successful IPO.