SpaceX’s record IPO has Wall Street torn between a Musk ‘holy grail’ and a $72-per-share leap of faith

SpaceX is set to launch a $75 billion IPO at $135 per share, valuing the company at $1.77 trillion, with analysts divided over its fundamentals versus growth potential. The offering, which is oversubscribed, reflects investor enthusiasm for AI-driven ventures, while debates persist over its 94x trailing sales valuation. Analyst Dan Ives predicts a potential merger with Tesla, citing SpaceX's AI infrastructure deals with Google and Anthropic.