SpaceX’s IPO Tops $85.7 Billion After Underwriters Buy Extra Shares

SpaceX’s initial public offering swelled to $85.7 billion after the banks handling the sale took up the full allotment of additional stock, the company said. That amount exceeds the roughly $75 billion raised when the offering first closed and stands as the largest single IPO haul in history.

Company officials say the cash will be deployed across several priorities. About $20 billion will be used to retire debt linked to X (formerly Twitter) and Musk’s artificial intelligence firm xAI, both of which were folded into SpaceX ahead of the market debut. The remainder will support expansion of AI computing capacity, upgrades to launch facilities and continued development of the Starlink broadband network.

Shares began trading on the Nasdaq last Friday, pushing the company’s market capitalization past $2 trillion by the close. The move also pushed Elon Musk’s reported net worth beyond $1 trillion, a first for an individual on public wealth rankings. Stocks climbed again Monday, helping SpaceX overtake the market value of Taiwan Semiconductor Manufacturing Co.

Market watchers say the fundraising significantly strengthens SpaceX’s balance sheet and gives management more runway for capital-intensive projects. But some analysts caution that combining social-media and AI assets under the same corporate roof raises fresh governance and strategic questions for investors.

For customers and small shareholders, the windfall could mean faster rollouts of satellite broadband and more frequent launches — though it may also bring sharper share-price swings as the market digests how the company allocates this unprecedented pool of cash.