SpaceX's biggest-ever IPO just grew to $85.7 billion raised

SpaceX's IPO raised $85.7 billion after underwriters exercised the maximum share option, up from an initial $75 billion. Proceeds will pay off $20 billion in debt tied to X and xAI, and fund AI compute, launch infrastructure, and Starlink. SpaceX's stock began trading Friday, ending the day valued over $2 trillion.