What Happened
Banking Giant Defends Record Valuation Amid Skepticism
Goldman Sachs is backing SpaceX’s record-setting $1.8 trillion IPO, with a valuation that could make it one of the largest public companies. The bank is projecting significant growth in SpaceX’s AI unit, which could reach $322 billion in revenue by 2030. However, some valuation experts are skeptical of the high valuation, with estimates ranging from $780 billion to $1.22 trillion. The IPO is set to raise $75 billion, with up to 30% of the offering available to retail buyers, as reported by TheStreet.