SpaceX shares surged 19 percent in their first day of trading on the Nasdaq on Friday, lifting the company’s market value above $2 trillion and making founder Elon Musk the world’s first trillionaire.
The highly anticipated debut followed a record-breaking $75 billion initial public offering, the largest in history. Investors rushed to buy shares in the rocket, satellite and artificial intelligence company, driving heavy trading volumes throughout the day. More than 510 million shares changed hands, representing roughly $84 billion in market activity.
Shares closed at $160.95, giving SpaceX a market capitalization of approximately $2.1 trillion. The gain pushed the company ahead of several major American corporations and made it the sixth-largest publicly traded company in the United States. Amazon remains the next company ahead of SpaceX with a valuation of about $2.6 trillion.
The offering drew strong demand from both institutional investors and retail traders eager to gain exposure to Musk’s growing technology empire. The company’s stock market debut proceeded without major technical issues, a notable contrast to several high-profile listings in the past.
Investors and analysts said enthusiasm around SpaceX reflects confidence in the company’s long-term role in the space industry, satellite communications and artificial intelligence. Through its Starlink satellite network and launch operations, SpaceX has established a dominant position in commercial space services.
Despite the strong debut, analysts cautioned that the stock could face significant volatility in the coming weeks. SpaceX generated approximately $18.7 billion in revenue, leaving it with a valuation far higher than many established technology giants relative to sales. The company also remains unprofitable, a factor that has prompted some market observers to question whether its valuation can be sustained.
Several investment firms praised Musk’s track record and vision, arguing that investors are betting on future growth rather than current financial performance. Others urged caution, noting that the company’s share price is largely driven by expectations surrounding future technological advances and commercial opportunities.
The IPO has also created substantial wealth for employees. Reports estimate that around 4,000 current and former SpaceX workers now hold shares worth at least $1 million. For many early employees, the listing marks the culmination of years of growth since the company’s founding in 2002.
SpaceX is expected to qualify for inclusion in the Nasdaq 100 index within weeks under accelerated entry rules, a move that could attract additional demand from index funds and exchange-traded funds.
While some analysts have issued positive ratings on the company, others remain skeptical. Research firms have published valuations significantly below current market levels, highlighting the debate surrounding one of Wall Street’s most closely watched public offerings.
For now, investor enthusiasm has propelled SpaceX into the ranks of the world’s most valuable companies, marking a historic milestone for both the company and its founder.
