SpaceX Raises Funds Through IPO and Bond Offering to Support AI Expansion
SpaceX debuted on Nasdaq on June 12 with a record $75 billion IPO, briefly reaching a market valuation above $2 trillion. The company disclosed holding $100.8 billion in cash and cash equivalents as of June 19 and launched a maiden bond offering of up to $20 billion to support its AI ambitions. This funding may refinance earlier loans following the merger of Musk's AI firm xAI with SpaceX. Despite initial enthusiasm, shares have moderated amid investor caution over high valuations. SpaceX plans to expand into orbital computing powered by solar energy, competing with major tech firms investing heavily in AI infrastructure.