Top story for the morning: SpaceX raised $75 billion, Musk one step away from first trillionaire status

SpaceX has raised $75 billion in the largest IPO in history, with a valuation of $1.77 trillion. CEO Elon Musk is on the verge of becoming the first trillionaire in history - if Tesla's share price remains unchanged and SpaceX shares rise by at least 2.6% on the first day of trading. BofA has raised its forecast for server processor market growth due to the proliferation of AI agents. About these and other topics - in our review of key events by the morning of June 12.

SpaceX offered 555.6 million shares at $135 and raised $75 billion in the largest IPO in world history. The company's valuation reached $1.77 trillion, making it one of the most valuable public companies in the United States. Trading under the SPCX ticker will begin June 12 on Nasdaq and Nasdaq Texas.

Demand for the shares exceeded the offer more than four times. Elon Musk retained 84.4% of voting rights, and his share after the IPO is valued at more than $866 billion. The company will use the raised funds to develop Starlink, the Starship program and projects in the field of AI and space infrastructure.

Elon Musk could become the first trillionaire in history thanks to the record price of the SpaceX IPO. According to Forbes estimates, this increased the businessman's fortune by $188 billion - to about $982 billion.

If the share price of Tesla remains unchanged at the auction on Friday, June 12, and SpaceX securities rise to $138.5, Musk's capital will exceed $1 trillion. The same result is possible if the quotes of Tesla jump to $424, and SpaceX quotes remain at the level of the offering price, but this scenario is considered less likely, writes Forbes.

Musk owns 4.8 billion shares of the space company, which at the listing price is valued at $644 billion. In addition, he owns options to purchase another 350 million securities. The value of these options is about $44 billion. In total, Musk's stake in SpaceX reaches 38% and is valued at $688 billion before the start of trading. The stake in Tesla is just over 10% and is valued at about $165 billion, and options on another 8% of shares - $114 billion.

The server processor market will grow more than fivefold by 2030, from $35 billion to over $170 billion, BofA predicts, Yahoo Finance reports. The main driver will be the spread of AI agents that perform actions on behalf of users and increase the load on central processing units.

Against this background, not only Intel and AMD, but also Arm, Nvidia and Qualcomm can win, the publication notes. Over the past 12 months, Intel's shares have grown by 436%, AMD - by 280%.

The U.S. Supreme Court ruled that the Investment Company Act of 1940 does not give investors the right to bring most claims against funds in court because of corporate governance and internal decisions, Bloomberg reports. The justices made this decision by a majority of votes - 6 to 3. It was a victory for management companies, including BlackRock.

The court rejected the claims of hedge fund Saba Capital, which sought greater influence in a number of closed-end funds. Now control over compliance with the law in such cases remains mainly with the U.S. Securities and Exchange Commission (SEC), and industry representatives said that the decision will reduce the risks of costly litigation, the agency points out.

- Japan's broad Topix index was up 1.8 percent, while the Nikkei 225 was up 3.6 percent.

- Hong Kong's Hang Seng Index was up 2.1 percent, while mainland China's CSI 300 Index was up 1.5 percent.

- In South Korea, the Kospi index was up 8.6% and the Kosdaq was up 5.2%.

- Australia's S&P/ASX 200 was up 2 percent.

- S&P 500 futures were up 1.8 percent, Nasdaq Composite futures were up 2.5 percent and Dow Jones Industrial Average exchange-traded contracts were up 1.9 percent.

This article was AI-translated and verified by a human editor