The record-breaking $1.75 trillion IPO underscores a new reality that nations which do not control critical digital infrastructure risk ceding part of their sovereignty. Last week, SpaceX listed on Nasdaq under the ticker SPCX, raising $75 billion at a staggering valuation of $1.75 trillion. That single offering surpassed Saudi Aramco’s 2019 record of $25.6 billion by a factor of three. India’s defence budget for FY 2025-26 was Rs. 6.81 lakh crore, approximately $78.57 billio