SpaceX’s largest IPO ever has grown to $85.7 billion

SpaceX’s historic IPO has gone very big, following the IPO’s underwriters practiced Their option to purchase the maximum amount of shares – bringing the total amount raised to $85.7 billion.

Elon Musk’s space and artificial intelligence company initially raised $75 billion, which was already enough to make it the most unexpected IPO ever.

SpaceX said it plans to use the proceeds from this IPO in several ways. The company plans to extinguish about $20 billion in debt related to legacy loans tied to Company

The funds will also be used to expand SpaceX’s AI computing infrastructure, enhance launch infrastructure, and improve Starlink.

SpaceX shares began trading on the Nasdaq stock exchange on Friday. The company ended the day with a valuation of more than $2 trillion, and Musk became the world’s first trillionaire. Shares rose on Monday, helping SpaceX beat chipmaker TSMC’s valuation.