According to the online economy report, quoted by Hamemehan, SpaceX officially entered the stock market by registering the largest initial public offering (IPO) on Friday, June 22, 1405. By attracting $75 billion in capital, this company surpassed the previous record held by Saudi Aramco.
As the SPCX symbol reopened near $150, the net worth of Elon Musk, the company’s founder, crossed the $1.1 trillion mark, making him the first person in history to reach this financial milestone.
The company’s stock, which was priced at a base price of $135 for 555.56 million shares, was met with a strong reception upon its arrival on the Nasdaq, rising to a high of $176.45.
This 30.7% jump increased the value of Musk’s holdings in SpaceX alone by $188 billion. It should be mentioned that Elon Musk owns about 38% of the total shares of this space giant.
Starlink profitability versus artificial intelligence costs
Published financial reports show that the Starlink division is the only profitable unit of the group, which generated an operating profit of $1.19 billion in the first quarter of the year. In contrast, the artificial intelligence (AI) unit of the company recorded a loss of about $2.47 billion despite revenue of $818 million.
This shows that investors have gambled on the future of orbital infrastructure and the company’s mastery of new technologies rather than paying attention to current profitability.
Impact on financial markets and capital circulation
Data from JP Morgan shows that many hedge funds have exited their positions in the seven US tech giants to finance the purchase of SpaceX shares.
This massive cash flow has put SpaceX among the top seven companies in the world by market capitalization. However, the main challenge for the company will be to maintain the growth of Starlink to offset the high costs of the artificial intelligence and Mars projects in the long term.
