Musk's SpaceX Eyes Historic IPO as Investors Bet on AI

SpaceX is preparing for a stock market listing that could set new records in global financial markets. Elon Musk's company is seeking to sell more than 555 million shares at $135 apiece, which would raise around $75bn in new capital, Bloomberg reports.

That would give SpaceX a market valuation of around $1.75tn to $1.8tn, surpassing Saudi Aramco's record-setting initial public offering (IPO). Investors have high expectations for the company's continued growth, driven by its Starlink satellite network, artificial intelligence projects and long-term plans to colonise Mars.

Analysts caution, however, that SpaceX has yet to turn a profit and that its valuation ranks among the most ambitious in the history of the technology sector.

(mja)