SpaceX's biggest-ever IPO just grew to $85.7B raised | TechCrunch

Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. SpaceX’s historic IPO just got supersized, after the public offering’s underwriters exercised their option to purchase the maximum amount of shares — bringing the total amount raised to $85.7 billion. Elon Musk’s space and AI company had initially raised $75 billion, which was already enough to make it the largest IPO windfall ever. SpaceX has said it plans to use the proceeds from this IPO in a variety of ways. The company plans to extinguish around $20 billion in debt related to legacy loans tied to X (formerly Twitter) and Musk’s AI company xAI — both of which were combined into SpaceX before the IPO. Funds will also be used to expand SpaceX’s AI compute infrastructure, enhance its launch infrastructure, and improve Starlink. SpaceX’s stock started trading on the Nasdaq exchange on Friday. The company finished the day with a valuation of more than $2 trillion, and Musk became the world’s first trillionaire. Shares climbed higher on Monday, helping SpaceX eclipse the valuation o