On June 11, the order book for SpaceX's initial public offering closed at a fixed price of US$135 per share, giving the aerospace giant a valuation of US$1.77 trillion. This historic event has officially made Elon Musk the first individual with a net worth exceeding US$1.1 trillion. While the company's Starlink division remains highly profitable, the IPO filing revealed significant losses in its AI subsidiary, xAI. Critical analysts warn that the valuation is based on unproven technologies, such as space-based data centers, though investor demand for the stock exceeded US$250 billion.