SpaceX IPO Raises $75 Billion at $1.77 Trillion Valuation, Starlink Drives Growth
SpaceX raised $75 billion in its historic IPO by pricing 555.6 million shares at $135, implying a $1.77 trillion valuation. Its Starlink segment generated $11.4 billion in FY2025 revenue with 50% growth and over 10 million subscribers, while the AI unit burns cash and faces an uncertain $11 billion Google Cloud deal.
1. Historic IPO Raises $75 Billion
SpaceX sold 555.6 million shares at $135 each in its Nasdaq debut, raising a record $75 billion and setting a $1.77 trillion market valuation, the largest IPO in history. This massive capital influx will fuel expansion across its space and satellite businesses.
2. Starlink Fuels Revenue and Subscriber Growth
Starlink drove $11.4 billion in FY2025 revenue, up 50% year-over-year, supported by more than 10 million subscribers globally. This low-latency broadband network is the primary profit engine for SpaceX’s early public performance.
3. AI Unit Faces Cash Burn and Deal Uncertainty
SpaceX’s AI division remains capital-intensive, burning cash rapidly on research and development. Its projected $11 billion cloud services deal with Google Cloud is non-binding and may not deliver long-term revenue stability.
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