• Record-Breaking Valuation:SpaceX is raising $75 billion by selling a total of 555.5 million shares at $135 per share, surpassing the previous IPO record of $29.4 billion set by Saudi Aramco in 2019.

• Large Fund for Artificial Intelligence Investments:The company uses this huge cash inflow to strengthen the infrastructure of the xAI company it acquired this year, expand its data centers on earth, produce artificial intelligence microchips and establish orbital artificial intelligence information processing networks in space.

• Elon Musk Is Running for the Title of Trillionaire:Elon Musk, who serves as the chairman of the board and CEO of the company, maintains his overwhelming voting rights at 85 percent after the public offering, and with this move, he is approaching the title of becoming the world’s first official trillionaire.

A New Period in Financial History: Saudi Aramco’s Record Is Left Behind

This step taken by SpaceX stands out as a development that has been long awaited in financial circles but surprises everyone with its size. According to the official prospectus documents submitted to the American Securities and Exchange Commission (SEC), an additional option right of 83.3 million shares is granted to the consortium managing the public offering process. The heavy interest of investors also causes activity in the general course of the Nasdaq stock market.

The fact that other artificial intelligence giants such as OpenAI and Anthropic are preparing for public offerings exceeding 1 trillion dollars this year, paves the way for the big capital in the stock market to shift from classical technology shares to these new generation structures. Financial analyst experts say that this situation may create short-term fluctuations in global markets, but in the long term it will completely transform the face of technology investments.

To Which Areas Are Investments Transferred?

SpaceX makes it clear that it will not be limited to Mars-focused rocket projects or Starlink satellite networks. As stated in SEC documents, a large portion of the new capital raised is directly invested in artificial intelligence process infrastructures. Earlier this year, the company has completely integrated xAI, another initiative of Elon Musk, into its own structure. The following steps are planned to be taken in line with the new strategy:

• Increasing the capacities of global land-based data centers exponentially,

• Development and production of artificial intelligence microchips to be specially designed within SpaceX,

• Launching of cloud computing satellites that will operate in low earth orbit and be called “space-based data centers”.

With these investments, the company aims to maximize autonomous systems in space operations and gain an information processing power advantage over its competitors in the artificial intelligence race on earth.

Profitability Discussions and Investors’ Risk Analysis

Although its market value suddenly reached a huge level of 1.75 trillion dollars, the financial statements of SpaceX company raise some question marks. According to the first quarter reports shared by the company, a net loss of 4.3 billion dollars was announced due to huge operational expenses. This situation causes significant controversy among conservative investors in the stock market and financial analysis companies. For example, independent analyst firm Morningstar argues that, based on discounted cash flow models, the company’s fair value should actually be around $780 billion.

Investment experts warn personal investors, who showed heavy demand for SpaceX shares in the first days, to be cautious. It is noted that high volatility may be experienced in the first stages of the public offering process and that the company should focus on the long-term vision of artificial intelligence and space instead of short-term speculative breakthroughs. Despite all these controversies, Elon Musk’s 85 percent voting power in the company and his absolute control of the board of directors clearly show that he will not compromise on the company’s aggressive growth strategy.