SpaceX surges past $2T valuation in Wall Street debut after record IPO

SpaceX’s shares jumped more than 20% in its Nasdaq debut on June 12, 2026, propelling the company’s valuation past $2 trillion and positioning it as the sixth-largest U.S. firm by market value. The stock opened at $150, up from its $135 IPO price, and closed at $164, reflecting strong investor demand ahead of future AI company listings like Anthropic and OpenAI. The $75 billion IPO, the largest in history, exceeded Saudi Aramco’s 2019 record by more than double and underscored Elon Musk’s dominance in tech and space. Despite reporting a nearly $5 billion loss in 2025 and limited revenue compared to peers, SpaceX’s valuation reflects its market opportunity of $28.5 trillion, driven by leadership in orbital launches and Starlink revenues. SpaceX President Gwynne Shotwell and CFO Bret Johnsen rang the Nasdaq opening bell, while Musk—who called the company’s success a 10% chance—celebrated the milestone in Texas. The IPO also triggered speculation about a ‘Musk premium,’ similar to Tesla’s valuation, though SpaceX’s inclusion in the Nasdaq 100 within 30 days will boost demand from passive funds. Analysts compared SpaceX to Tesla, citing its mix of established operations and high-risk ventures like AI and robotics. However, valuation challenges remain, as the company’s growth trajectory and profitability are still unproven. Underwriters may sell additional shares within 30 days, potentially lifting the valuation further. The debut reshapes Wall Street’s IPO landscape, with investors rotating into SpaceX while some tech stocks face selling pressure. Nasdaq’s fast-track inclusion rules will accelerate SpaceX’s integration into major indices, solidifying its role as a cornerstone of future market listings.