SpaceX goes public, Elon Musk becomes world's first trillionaire
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Rocket and data center business SpaceX has gone public on the Nasdaq.
Key facts
Founder and CEO Elon Musk's 38 percent stake in SpaceX is now worth around $800bn
Shares in the company quickly jumped 20 percent at IPO, already the world's largest public listing
SpaceX COO Gwynne Shotwell said the first AI1 units would launch in late 2027, but that the company intends to put compute on its Starlink broadband and Starlink mobile satellites before the AI1’s
Analysts at Morningstar believe that SpaceX is overvalued by 114 percent over its IPO price
Summary
Shares in the company quickly jumped 20 percent at IPO, already the world's largest public listing. Founder and CEO Elon Musk's 38 percent stake in SpaceX is now worth around $800bn. Musk's rocket business, which merged with xAI, plans to deploy 'data centers' in space. SpaceX COO Gwynne Shotwell said the first AI1 units would launch in late 2027, but that the company intends to put compute on its Starlink broadband and Starlink mobile satellites before the AI1’s debut. The AI data center proposal has seen numerous criticisms, while the SpaceX IPO has been more broadly critiqued for its high valuation of a primarily loss-making business.