SpaceX shares soar following record-breaking $75 billion IPO

SpaceX made its stock market debut on Friday, with shares opening at $150 and closing at $160.95, marking a 19% increase from the $135 IPO price. The stock peaked at $176.52 during trading, a near 31% gain, though this was below market predictions. The company raised $75 billion, surpassing Saudi Aramco’s 2019 record of $26 billion, and now trades on Nasdaq under the ticker SPCX. The funds will support SpaceX’s ambitious goals, including establishing a human colony on Mars and deploying solar-powered data centers in space. Elon Musk, the company’s founder, emphasized its vision during an opening bell event at Starbase, Texas, stating SpaceX aims to take people to the moon, Mars, and beyond. SpaceX’s IPO drew over $100 billion in retail orders, boosting its market value to $2.2 trillion, though its revenue of $18.7 billion in 2025 remains unprofitable compared to giants like Alphabet. Despite this, the company now ranks ahead of Meta Platforms, Samsung, and Tesla in valuation, though still behind Nvidia’s $5 trillion market cap. The company’s business includes Starlink, a satellite broadband service, and an AI division focused on data centers. SpaceX also recently acquired Musk’s xAI, which operates the X platform and Grok chatbot. The IPO reflects broader market trends, with AI-driven companies like OpenAI and Anthropic planning their own public offerings. Analysts noted the strong investor demand, though SpaceX’s valuation far exceeds its current revenue and profitability. The company’s debut aligns with a record-high stock market, driven by AI and corporate earnings growth.