Matt Frankel

E-Trade is now owned by Morgan Stanley, which is one of the investment bankers reportedly on the deal.

But even so, raising $75 billion in an IPO is no small task.

The previous record as Saudi Aramco, that raised $29 billion.

But I think it's fair to say that there's more investor interest for SpaceX than a giant Saudi oil company.

The $1.75 billion valuation, it's not just the space business.

Rachel alluded to this, too.

Remember that Elon Musk recently merged XAI, which also owns the X platform, formerly Twitter, into SpaceX.

You're getting this emerging conglomerate here.

Although XAI is almost certainly losing money, Starlink is profitable, as you mentioned.

XAI reportedly has a private valuation of well over $200 billion itself.

There are some grand visions throughout these companies.

Rachel mentioned the data centers in space.

Elon Musk said he wants a million of those eventually.

This sounds like the SpaceX version of Tesla's Optimus robots.

that real future technology and a big number that raises eyebrows.

But having said all that, that valuation puts us really in uncharted territory for a U.S.

IPO, so I don't know what the implications could be.

$75 billion is more than the entire IPO market in the U.S.

raised in all but two of the last 10 years.

Those were the two COVID booming years when everyone was going public.