SpaceX IPO Targets $75 Billion with $135 Shares to Justify Valuation

AI Summary

SpaceX is planning an IPO aiming to raise $75 billion by selling 555.6 million shares at $135 each. The company's projected valuation stands at $1.77 trillion, making it the seventh most-valuable U.S. company, ahead of Tesla (TSLA). Former Tesla board member Steve Westly suggested that SpaceX must achieve at least two of its three major projects, dubbed 'moonshots', to maintain this valuation. The company’s only profitable unit is the Starlink satellite internet service, which is crucial for its revenue stream. This IPO marks a monumental moment in the market, raising questions about pricing and potential future merges with Tesla.