SpaceX just closed the largest IPO in human history and here are some stocks that will benefit from this (Save this).
Today, the offering brought total gross proceeds to $85.7 billion across 638,888,888 shares, valuing the company at roughly $2.1 trillion.
For context, Saudi Aramco's 2019 IPO was the previous record at $25.6 billion while SpaceX raised more than three times that in a single offering.
Falcon and Dragon cost $4 billion to build, Starship cost $15 billion, Starlink cost $20 billion, SpaceX just raised more than all three programs combined in a single offering, and now has permanent capital market access to fund everything that comes next.
The three forward priorities SpaceX disclosed are Starlink launch cadence acceleration, orbital AI data centers, and early infrastructure for a permanent lunar base and Mars mission roadmap.
The orbital AI data center announcement is what Wall Street has not priced correctly yet and it creates a direct chain of beneficiaries.
Nvidia is the most obvious winner because every orbital compute cluster runs on the same GPU architecture as every terrestrial data center, the launch vehicle changes, the silicon does not.
Micron's case strengthens further because memory content per orbital compute unit runs at a premium to ground based equivalents, radiation hardened HBM requires larger tolerance margins and more redundancy by design, which means higher ASPs per gigabyte in space applications.
Rocket Lab is the most underappreciated second-order winner because SpaceX's $2.1 trillion public market valuation just repriced the entire commercial space investment thesis for institutional capital that has been waiting on the sidelines, and Rocket Lab is the only other launch company trading publicly.
To get a sense of scale, hereβs how the $85.7b SpaceX just raised compares to what theyβve historically spent on different programs.
People arenβt ready for the magnitude of things to come