SpaceX is set to begin trading on Nasdaq after investors poured $US75 billion ($A106 billion) into the world's biggest IPO ever, betting that Elon Musk's lofty space, communications and AI ambitions can justify a $US1.77 trillion valuation.
The landmark listing cemented Musk's status as the first trillionaire and propelled SpaceX into the ranks of the world's most valuable companies - even though the firm posted a loss of nearly $US5 billion in 2025 and generated only a fraction of the revenue brought in by similarly valued tech giants.
The stock's performance will be a test for the so-called "Musk premium", which has been the force behind Tesla's $US1 trillion-plus valuation.
