SpaceX set for record debut

SpaceX is set to make its record-breaking stock market debut today, with appetite for its shares vastly outweighing supply. The IPO valued the company at above $1.75 trillion and may have made CEO Elon Musk the world’s first trillionaire. The already sky-high numbers could go higher: SpaceX received orders for more than three times the amount of shares on offer, derivatives markets priced in a 35% jump, and prediction markets placed a 70% probability on the firm’s market capitalization topping $2 trillion by close. Its debut looks to be a good sign for upcoming IPOs of the AI giants Anthropic and OpenAI. While SpaceX has never made a profit, mainly down to enormous investment, its revenues have grown rapidly.