SpaceX’s initial public offering was underway, with projected proceeds of around $75 billion and the potential to go even higher if underwriter allotments and other small additions are included. The size of the deal puts the SpaceX stock price in the spotlight as the company prepares to tap a huge pool of capital for its next phase of growth.
That capital matters now because SpaceX has made clear it wants to move quickly. In its 370-page IPO prospectus, the company said its AI business is still early and faces the challenges of a nascent, highly competitive, capital intensive and rapidly changing industry. It said the strategy is still developing and will require major spending on compute, infrastructure and power generation, model training and product development.
The filing used the word competition more than 180 times, and that was not accidental. SpaceX said AI opportunities make up $26.5 trillion of its claimed $28.5 trillion total addressable market, a number that helps explain why it is seeking such a massive raise and why investors are watching how quickly that money could be put to work. The company said it plans to deploy IPO capital to scale the business as fast as possible.
But SpaceX’s push into AI is colliding with a hardware reality that is hard to ignore. Nvidia chips are still described as the best-performing commercially available GPUs on the planet for AI applications, and Nvidia holds an estimated 85% market share. SpaceX’s Colossus 1 facility already has more than 220,000 Nvidia GPUs at its core, including dense deployments of H100 and H200 chips and next-generation GB200 accelerators.
That dependence sits beside Musk’s own pitch that he is designing new GPUs that could outperform Nvidia’s chips at a fraction of the cost. It is a sharp contrast: the company is raising historic capital to press deeper into AI, while still relying heavily on the supplier it is trying to challenge. For readers tracking the SpaceX stock price, the unanswered question is less whether the IPO is large than how much of that cash will end up financing the chips, power and infrastructure Musk needs to make his AI plan real. More on the offering is available on the Spacex Stock Price Chart Page Published by eToro With Risk Disclosures.
