Texas [US], June 12 (ANI): Elon Musk led SpaceX on Thursday raised $75 billion in its IPO, valuing Elon Musk's company at around $1.77 trillion reported Axios. The SpaceX IP is the largest in the US and will be followed by two Artifical Intelligence behemoths OpenAI and Anthropic which go public later. With the IPO Elon Musk will become the world's first trillionaire today.

According to a CNBC report which cited filings made with the Securities and Exchange Commission SpaceX is selling 555.6 million shares for $135 a piece. The deal makes the company the seventh most-valuable U.S. company, ahead of Tesla, also owned by Musk.

SpaceX's Nasdaq debut will come Friday. In its prospectus filed with the US SEC SpaceX said that revenue increased 15% to $4.69 billion in the first quarter from $4.07 billion a year earlier. The company also recorded a net loss in the latest quarter of $4.28 billion after losing $4.94 billion in 2025.

CNBC reported that the offering serves as a bellwether for other massive tech offerings, including Anthropic and OpenAI. Both artificial intelligence start-ups approach valuations of USD 1 trillion. Once the stock begins trading, investors who didn't participate in the IPO or didn't receive an allocation can buy shares on a public stock exchange

According to a New York Times report, Musk, who controls a 50 per cent stake in SpaceX, will see his holdings valued at just over USD 752 billion. Regulatory filings show Musk cannot sell some shares until the company hits specific operational milestones.

Musk controls more than 85 per cent of SpaceX shareholder votes through super-voting shares. The company will use the capital to fund orbital data centers, a lunar factory, and Mars expeditions.

Besides Tesla and SpaceX, Musk has co-founded five other companies, including tunneling startup The Boring Company and brain implant maker Neuralink.

On May 23, SpaceX successfully launched the twelfth test flight of its next-generation Starship on Friday evening (local time), marking the first-ever flight of the upgraded Starship and Super Heavy Version 3 vehicles and the debut of the company's new Raptor 3 engines.According to the SpaceX press release, the mission lifted off from Starbase, Texas, at 5:30 pm CT and also marked the first Starship launch from the company's new Pad 2 facility. (ANI)