SpaceX completes record $75 billion IPO shares surge AI deal

SpaceX, the aerospace and satellite company founded by Elon Musk, completed the largest initial public offering in U.S. history on June 12, raising $75 billion. Shares priced at $135 and surged in their first days of trading, reaching an intraday high of $225.64 before experiencing a pullback. Despite the decline, the stock remained significantly above its offering price in the days following the debut.

The IPO's explosive opening was attributed in part to mechanics, as only about 5% of the company's shares were available for trading at launch, creating a supply-demand imbalance that amplified price moves. Retail investor demand was exceptionally strong, with individual investors securing approximately 30% of available shares, far above typical allocations.

Shortly after going public, the company announced a major strategic move, agreeing to acquire artificial intelligence coding firm Anysphere for $60 billion in an all-stock transaction. The deal, confirmed on June 16, is intended to bolster SpaceX's AI capabilities. Concurrently, reports indicate the company is preparing a bond offering of at least $20 billion, expected to launch the week of June 23. The purpose of this debt...