SpaceX gears up for record mega-IPO to fund AI — ride the halo effect on Big Tech
Elon Musk's SpaceX is set to go public later in June with a record-breaking initial public offering, aiming to raise up to $86 billion at a $135 share price. The company will use the massive influx of cash to fund its ambitious AI and space launch projects.
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SpaceX is preparing for the largest stock market debut in history, explicitly aiming to raise $75 billion to aggressively fund AI advancements. Meanwhile, big tech companies like Alphabet, Microsoft, and Amazon are also spending unprecedented amounts of money to dominate the artificial intelligence space. This massive IPO is drawing mainstream attention and fresh investor capital directly into the AI sector. As SpaceX builds momentum toward its June listing, it is dragging up the stocks of other major AI spenders along with it.