SpaceX expects its IPO to raise $74.4 billion

**Imran Shaikh** (0:00)
This episode is brought to you by Rise Robotics. Rise Robotics is one company you're going to want to keep an eye on, and not just because they're making cool new technology, but because they're giving anyone and everyone a chance to invest in their company. And yeah, that includes you listening to this podcast right now. Know a little thing called hydraulics? You know, the thing keeping heavy machines functioning? Well, Rise Robotics has made an electric alternative, belt hydraulics. It will replace current hydraulic systems, which often break and leak, with one that runs cleaner, faster, and with less maintenance. Here's some things you might also find interesting about them. This is patented technology well out of the idea phase. I'm talking 20 plus patents and deals with the Pentagon over here. Oh, and Rise Robotics has already acquired over $9.3 million in revenue. Most importantly, Rise Robotics is giving anyone interested the opportunity to invest and become a part owner right now. If that's something you might be into, check them out at invest.riserobotics.com. You can read about the technology, see what they've built and decide if becoming a part owner of this company makes sense for you. Again, that's invest.riserobotics.com. SpaceX expects its IPO to raise $74.4 billion.
More on that coming up, but first, banish any memories of Ferrari's 2004 venture Intel laptops. Coinciding with the Monaco Grand Prix and with HP Into, Ferrari is charging at the world of laptops again, with a product that has an eye-watering Tifosi-baiting price of $5,599.
The HP Scuderia Ferrari AI PC is a limited-run notebook that's the result of two years of collaboration between the PC maker and iconic car company. The laptop is unapologetically design and engineering-centered, as you might expect, with premium materials and finishes all backed by the reliability and technical assurance that should be typical of HP's laptops.
Also, Samsung will start rolling out an update on June 8th that will make its health app more useful in everyday life. The company says that the updated app will translate complex biometric data from overnight sleep to daily activity into simple, actionable guidance. It will also showcase features that will be found on the Galaxy watches that the company is launching this year. As you've probably already expected, the features in the updated health app will be powered by generative AI. The new vitals feature, for instance, will use AI to analyze your heart rate, heart rate variability, respiratory rate, skin temperature, and blood oxygen against their true resting baseline overnight. If the app detects meaningful deviations, it will send you a notification to say if you need more rest or if it's possible that you may be fighting an illness. Remember, you can find the latest Gadget News, reviews, price drops, and more right now at engadget.com.

**SPEAKER_2** (2:52)
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**Imran Shaikh** (3:25)
SpaceX has set a price of $135 for shares that will be sold in its upcoming initial public offering, the company has revealed in its amended filing. According to Reuters and the New York Times, it's unusual for companies to set a concrete price a week before it goes public, and they just typically set a price range in case of shifts in investor demand. The company could still change the price of its shares. It will announce the final price on June 11th, with stocks trading the next day. If SpaceX's stocks do sell for $135, it's expected to raise $74.4 billion from the IPO, making it the biggest in history and giving the company a valuation of approximately $1.75 trillion. It could also make Elon Musk the very first trillionaire, with shares trading at $135. Elon Musk's 50% stake in the company would be worth around $752 billion. Those are amounts most ordinary people could hardly comprehend. Matthew Kennedy, a senior IPO market strategist at Renaissance Capital, told The Times that raising $74.4 billion would be more than every US IPO combined in the last two years. SpaceX quietly filed Draft IPO Registration paperwork with the US Securities and Exchange Commission earlier this year. When the paperwork became public, it shed light on the finances of Musk's companies and their clients.
Thanks for listening to the show. Make sure to rate, review, and subscribe on Apple Podcasts. Today's show, future journals and buying Engadget contributor Mariella Moonen was produced by Spoken Lair. I'm Imran Shaikh, and as always, we'll talk more on Monday.