SpaceX has officially debuted on US stock markets in one of the largest initial public offerings (IPO) in history, reaching a valuation of nearly $2 trillion.
The shares opened at $150, about 11% higher than the IPO price of $135, pushing the company’s valuation to around $1.96 trillion shortly after trading began. By the end of the day, shares had climbed further to about $159.
The massive IPO raised around $75 billion, making it one of the biggest public listings ever recorded. Investor demand was extremely strong, with the offering reportedly oversubscribed four times.
The listing immediately made CEO Elon Musk the world’s first trillionaire, according to market estimates linked to the company’s surge in value.
A large portion of shares went to long-term institutional investors and sovereign wealth funds, including those from Saudi Arabia and Kuwait.
Market analysts said the strong debut reflected high investor confidence in SpaceX’s long-term growth, especially through its Starlink satellite internet business, which is estimated to contribute most of the company’s revenue.
Despite the huge valuation, reports note that SpaceX still recorded losses of around $5 billion last year, raising questions about profitability compared to other major tech companies.
The IPO is being closely watched as a benchmark for future mega-listings in the tech and artificial intelligence sectors.
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