NEW YORK — SpaceX shares surged 19% in their Nasdaq debut on Friday following the company’s record-breaking initial public offering that raised $75 billion, the largest in history.
The rocket and satellite company, led by Elon Musk, priced its shares at $135 and opened trading at $150 under the ticker SPCX. Shares closed at $160.95, pushing the company’s market capitalization above $2 trillion and making Musk the world’s first trillionaire.
SpaceX sold about 555.6 million shares in the offering, which valued the company at roughly $1.77 trillion at the IPO price. The strong debut followed intense investor demand that exceeded $250 billion, according to reports from underwriters.
The listing marks a significant milestone for the privately held company, which has grown through its Falcon rockets, Starlink satellite internet service and other ventures. SpaceX reported revenue of about $18.7 billion last year, driven largely by Starlink’s more than 10 million users and government contracts, though it posted an operating loss.
Musk, who retains a substantial stake, rang the Nasdaq opening bell virtually or through representatives as executives marked the occasion. “This is just the beginning,” Musk said in a statement following the debut, according to company releases.
The IPO comes amid broader enthusiasm for technology and artificial intelligence-related companies. SpaceX has expanded into AI infrastructure alongside its core space operations. The debut made it one of the most valuable U.S. companies on its first day of trading.
Analysts and market participants noted the historic scale of the offering, which surpassed previous records. Some observers highlighted risks tied to the company’s valuation and dependence on government contracts and launch success. Details on exact trading volume and long-term implications remain subject to market developments.
As of Saturday, SpaceX shares continued to trade in after-hours sessions with modest gains. The company has not announced immediate changes to its operations following the public listing. Further details on post-IPO plans, including use of proceeds, were outlined in regulatory filings.
