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SpaceX Set to Shatter IPO Record with $75 Billion Debut

SpaceX filed its initial public offering prospectus Wednesday. Elon Musk's rocket company will list on Nasdaq under ticker SPCX and is targeting approximately $75 billion in proceeds—more than triple the current largest U.S. IPO. Alibaba's 2014 offering of $21.8 billion held the previous record, followed by Visa at $18 billion in 2008, Enel SpA at $16.5 billion in 1999, and Facebook at $16 billion in 2012. The SpaceX debut arrives as the IPO market seeks momentum following subdued activity since late 2021. Recent tech offerings including Cerebras' Nasdaq listing last week have tested investor appetite, marking the largest technology offering since Uber's 2019 public debut.