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SpaceX raises US$75b in record‑breaking IPO

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SpaceX raised US$75 billion by selling about 555 million shares at US$135 each, valuing the company near US$1.8 trillion and making Elon Musk a paper trillionaire.

Institutional orders were roughly four times oversubscribed and retail demand topped US$100 billion, even as critics point out the stock trades at over 100 times sales and the company lost US$4.9 billion last year.

Sceptics highlight Morningstar’s US$63 fair‑value estimate, concerns about “AI snake oil” and Musk’s roughly 80% voting control, while bulls argue the listing reflects investor appetite for long‑duration bets on space and AI infrastructure.

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