SpaceX raised $10bn (£7.5bn) more than initially thought when it sold shares to the public on Friday - bringing in a total of $85.7bn. Elon Musk's rocket and Artificial Intellgience (AI) company pulled off the biggest initial public offering (IPO) in history when it joined New York's Nasdaq stock exchange last week. The listing had raised $75bn from investors, which Musk told employees will be spent funding a significant growth phase. But the banks which backed the IPO exercised a so-called greenshoe clause, which let them purchase an extra $10bn of SpaceX shares. The extra $10bn raised, revealed in a statement by SpaceX announcing the completion of the listing, would by itself rank as one of the biggest IPOs in history.

SpaceX to list on US stock market at $1.77tn valuation in largest ever debut IPO for Elon Musk's company comes in what is predicted to be a banner year for public offerings of AI companies SpaceX will become publicly traded on Friday after nearly two and a half decades as a private company. Executives are slated to ring the bell on Wall Street with the rocket ship maker's historic stock market debut. If all goes to plan, the company's initial public offering (IPO) will mint a valuation of $1.77tn - earning it the designation of the world's largest ever IPO. Elon Musk, the founder and CEO of SpaceX, has a large stake in the company as majority shareholder, so if investors' enthusiasm validates the eye-popping valuation, he would take the title of the world's first-ever trillionaire. Musk is also the CEO of Tesla, which is valued at $1.2tn.

Musk's $1.8 trillion SpaceX IPO could be'highly undesirable' for some SpaceX is expected to debut on the United States' public markets on Friday in what will be the largest initial public offering (IPOs). Artificial intelligence (AI) giants OpenAI and Anthropic are also widely expected to go public soon, and thanks to a new rule change by tech stock exchange Nasdaq, individual investors could own stock of these companies when they go public in as soon as 15 business days following its first trading day. SpaceX's IPO is generating buzz among retail investors. The Elon Musk-led company is expected to allocate 20 percent of shares to retail investors and has drawn roughly $70bn in orders, according to the Reuters news agency. Historically, there is a waiting period between when a company goes public and when it is listed on the Nasdaq-100 index and/or S&P 500.

Activists raised a 40-foot-tall inflatable Elon Musk in Manhattan to draw attention to the risk he allegedly poses to investors. It was surrounded by black banners with statements alleging "Grok makes AI child porn" and "SpaceX owns Grok," referring to the Musk-owned AI chatbot whose image-generation tool was used to create a flood of sexualized images of minors earlier this year. Masked attendants stood nearby, handing out flyers with additional information, but they would not speak with the media. The demonstration was helmed by Safe AI Now (SAIN), which describes itself as "a coalition of faith leaders, family advocates, child development experts, online safety organizations, educators, legal professionals, technologists, and concerned citizens," ahead of SpaceX's initial public offering on Friday. The location was strategically chosen--right in front of the Nasdaq and the offices of JP Morgan, one of the banks participating in the IPO .

OpenAI has failed to execute several strategies to monetise ChatGPT, including advertisements, which Sam Altman, OpenAI's CEO, had said would be a'last resort'. OpenAI has failed to execute several strategies to monetise ChatGPT, including advertisements, which Sam Altman, OpenAI's CEO, had said would be a'last resort'. As the tech mega-IPO race heats up, has OpenAI missed its moment? With rivals racing to market to raise'eye-popping sums', the spotlight is now on the AI sector's one-time'poster child' A year is a long time in AI. Just 12 months ago, Sam Altman was predicting his company OpenAI would build a super intelligence and fundamentally remake society.

Tech billionaire Elon Musk's SpaceX is preparing to list its shares on the US-based Nasdaq in what will be the most hotly anticipated initial public offering (IPO) in years. Here's everything you need to know about the deal: Founded in 2002 by Musk, now the world's richest man, SpaceX is best known for designing and launching rockets, spacecraft and reusable launch vehicles. Since 2006, the company has partnered with NASA to deliver cargo and crew to the International Space Station (ISS). The Texas-based company has also launched rockets, satellites and spacecraft for various private companies. As well as its aerospace business, SpaceX provides internet services and artificial intelligence platforms through its dedicated divisions, Starlink and xAI.

Now, Activists Are Taking On Elon Musk's SpaceX IPO Activists, a leading labor union, and a big retirement fund are asking challenging questions about what's expected to be the largest-ever stock market debut. Elon Musk's SpaceX is facing protests against its expected initial public offering from some of the same advocacy groups that helped erase $600 billion from Tesla's market cap early last year. SpaceX's IPO is poised to be the largest ever, raising tens of billions of dollars for the Musk-founded company and valuing it above $2 trillion. If all goes as intended come June, the conglomerate that now owns a rocket manufacturer, a social media app, and an AI chatbot developer will instantly rank among the world's top 10 largest publicly-traded companies. On Wednesday, Randi Weingarten, president of the American Federation of Teachers, wrote to the US Securities and Exchange Commission urging it to scrutinize SpaceX's IPO preparations.

SpaceX combining with xAI would bring Elon Musk's rockets, Starlink satellites, the X social media platform and Grok AI chatbot under one roof. NEW YORK - SpaceX is exploring deals with other companies helmed by serial entrepreneur Elon Musk, leaving investors working through permutations between space, autonomous driving and artificial intelligence to analyze which combination makes the most sense. The rocket maker is in discussions to merge with xAI ahead of a blockbuster public offering planned for this year, Reuters reported on Thursday. The combination would bring Musk's rockets, Starlink satellites, X social media platform and Grok chatbot under one roof, according to a person briefed on the matter and two regulatory filings. The deal's value, timing or primary rationale could not be independently determined.

Musk's SpaceX in merger talks with xAI ahead of planned IPO, source says SpaceX combining with xAI would bring Elon Musk's rockets, Starlink satellites, the X social media platform and Grok AI chatbot under one roof. NEW YORK - Elon Musk's SpaceX and xAI are in discussions to merge ahead of a blockbuster public offering planned for later this year. The combination would bring Musk's rockets, Starlink satellites, the X social media platform and Grok AI chatbot under one roof, according to a person briefed on the matter and two recent company filings. The plan, which Reuters is reporting exclusively, would give fresh momentum to SpaceX's effort to launch data centers into orbit as Musk battles for supremacy in the rapidly escalating artificial intelligence race against tech giants like Google, Meta and OpenAI. Musk, the world's richest man, is the CEO of both the private space company SpaceX and the artificial intelligence company xAI, which controls his social media platform X.