Elon Musk's mega-conglomerate SpaceX is about to launch an initial public offering of stock that is expected to break records — and soon the world will know just how historic that IPO is going to be.In a June filing with the Securities and Exchange Commission, SpaceX said it is aiming to raise $75 billion by selling more than 555 million shares at an expected price of $135 each — but the amount raised could be bigger if the initial share price is set higher.The listing price is expected to be revealed late Thursday, and the stock is expected to start trading publicly on Friday under the ticker SPCX.It could be the biggest initial public offering ever, eclipsing the current record holder, Saudi Aramco, whose 2019 listing netted $29.4 billion.SpaceX acquired Musk's AI company, xAI, this year, and that makes it part of a trio of huge artificial intelligence-related IPOs in the works.
ChatGPT maker OpenAI and Anthropic, owner of the popular Claude AI models, have also filed paperwork with the Securities and Exchange Commission to begin the process of what are sure to be giant IPOs of their own, likely later this year.Analysts say these three IPOs could reshape markets and inject new volatility into equities, as already sky-high expectations for AI companies come face-to-face with the reality of how these companies are run.The SpaceX IPO is as much a test of investor appetite for rocketry and artificial intelligence as it is for CEO Musk himself, analysts say."For a lot of people looking at this deal, whether you want to buy it or not is in part a bet on Elon Musk," said Angelo Bochanis, an associate at Renaissance Capital, which tracks IPOs.According to the company's listing prospectus, Musk will retain a tight grip on the company by controlling the board and holding more than 80% of stock voting power.That carries potential risk, Bochanis said.
Musk is one of the best-known figures in corporate America and has made Tesla the most valuable car company in the world...