SpaceX stock gains 19% its first trading day, closing out a historic IPO
SpaceX shares surged 19% on their first trading day, closing at $160.95 after a record $75 billion IPO, making Elon Musk the world’s first trillionaire. The company’s debut on Nasdaq marked the largest IPO ever and signaled Wall Street’s appetite for AI-linked ventures, with SpaceX’s market value briefly exceeding $2.25 trillion.
SpaceX’s stock opened for trading on the Nasdaq on Friday, closing at $160.95 after a 19% gain, marking the end of its record $75 billion initial public offering—the largest in history. The company’s shares began at $150 but briefly spiked over 30%, temporarily valuing SpaceX at more than $2.25 trillion. The IPO underscores Wall Street’s growing focus on AI-driven companies, with SpaceX leading a wave of upcoming public offerings from firms like Anthropic and OpenAI. Elon Musk, SpaceX’s chairman, CEO, and controlling shareholder, rang the Nasdaq opening bell from the company’s Starbase headquarters in Texas alongside employees. Other executives, investors, and staff celebrated simultaneously on the Nasdaq trading floor in New York, where SpaceX trades under the ticker SPCX. Musk reflected on the company’s journey, admitting he once doubted SpaceX’s success, calling its achievements ‘outlandish’ even in his own expectations. Founded in 2002, SpaceX has become a cornerstone of NASA’s space programs, handling astronaut missions and cargo to the International Space Station. The company has also expanded into Starlink, its satellite internet service, and acquired xAI, Musk’s AI startup, in February. While SpaceX historically relied on NASA and military contracts, its recent diversification signals broader ambitions in space exploration and AI infrastructure. The IPO coincides with heightened investor enthusiasm for AI, pushing major stock indexes to record highs despite global tensions, including an ongoing conflict with Iran. Goldman Sachs President John Waldron noted the SpaceX offering reflects global markets’ willingness to fund AI and space-related ventures, positioning the company as a key player in both sectors. SpaceX’s debut highlights Musk’s vision to make space travel accessible, with plans to transport people to the moon, Mars, and beyond using its rockets. The company’s rapid growth and financial success mark a pivotal moment for private space exploration and AI-driven innovation.
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