SpaceX’s record $75 billion initial public offering could ignite a new phase of the bull market, according to Evercore ISI strategists. The company raised $75 billion at $135 per share, giving it an implied valuation of $1.75 trillion in the largest IPO ever completed. Evercore strategists led by Julian Emanuel likened the debut to Netscape’s 1995 IPO, arguing it may catalyze a “Dream Big FOMO” effect that drives further gains in the artificial-intelligence-led rally. The firm rejected comparisons to the dot-com peak, citing a lack of recessionary signals, stable long-term Treasury yields, and robust AI-related earnings growth. Evercore maintained its S&P 500 year-end target of 7,750 and sees a potential bullish scenario of 9,000, while noting that approximately $7.9 trillion in money market funds could flow into equities.
Space Exploration Technologies Corp. Class A Common StockRecord $75B IPO at $135/share with $1.75T valuation, largest ever, seen as catalyst for bull market.