SpaceX IPO makes history as largest ever. Stock gains 19% on first day

SpaceX’s stock made its debut on the Nasdaq under the ticker SPCX, soaring 19% on its first day of trading to close at $160.95, valuing the company at over $2 trillion. The initial public offering, the largest in history, raised $75 billion from 555 million shares sold at $135 each. The launch coincided with a Falcon 9 rocket mission from Florida, marking SpaceX’s 650th flight and delivering Starlink satellites into orbit. CEO Elon Musk, present at Starbase, Texas, emphasized SpaceX’s long-term vision, calling its success improbable in early years. He highlighted the company’s mission to advance space exploration, including missions to the moon and Mars. Musk, who holds 85% of voting power, also leads Tesla and other ventures, raising concerns about governance and strategic focus. SpaceX plans to reinvest IPO proceeds into expanding its rocket and satellite businesses while accelerating its pivot toward artificial intelligence. This includes developing AI microchips, Earth-based data centers, and orbital AI infrastructure. The company acquired Musk’s AI startup xAI earlier this year, signaling its commitment to integrating AI into its operations. Despite its ambitious plans, SpaceX reported a net loss of $4.3 billion in the first quarter of 2026, fueling skepticism about its valuation. Analysts at Morningstar estimated SpaceX’s value at $780 billion using discounted cash flow models, citing high uncertainty in execution, market dynamics, and regulatory risks. The firm also warned of Musk’s key-person dependency and the challenges of managing multiple ventures. SpaceX’s IPO marks the first of three major AI-related tech offerings expected in 2026, testing investor appetite for high-growth, high-risk ventures. The company’s debut underscores its dominance in aerospace and its expanding role in AI, though profitability remains a critical hurdle.