Key facts
- SpaceX's IPO on Friday raised over $85 billion, becoming the largest in U.S. history.
- Shares closed at $160.95 on their first day of trading, up 19% from the $135 IPO price.
- The company's options trading debut also set records.
- SpaceX's market capitalization reached $2.2 trillion.
- Elon Musk became the world's first trillionaire due to the IPO's valuation.
SpaceX made a historic debut on the U.S. stock market Friday, completing the largest initial public offering in history and raising over $85 billion. The company's shares opened at $150 and closed at $160.95, marking a 19% increase from the $135 IPO offer price. The stock reached an intraday high of $176.52, a nearly 31% gain.
Following its stock market success, SpaceX also achieved a record-breaking debut in the U.S. options market on Tuesday. The company's strong performance pushed its market value to $2.2 trillion, surpassing major players like Meta Platforms and Samsung, though still trailing Nvidia.
IPO expert Jay Ritter noted that while the opening price was below betting market predictions, the overall return was significant given the deal's size. SpaceX's IPO was heavily oversubscribed, with demand exceeding supply, leading many institutional investors to purchase shares on the open market. The company's small public float of approximately 4% also contributed to demand.
The debut has resulted in substantial windfalls for early investors. Founders Fund's stake is estimated to be worth over $50 billion, Andreessen Horowitz's over $10 billion, and Sequoia's over $20 billion. The IPO's valuation made founder Elon Musk the world's first trillionaire, with thousands of SpaceX employees also becoming millionaires or centimillionaires.
Despite its high valuation, SpaceX faces challenges in profitability, having reported $18.7 billion in revenue last year but also an $8.7 billion loss between early 2025 and March 2026. The company aims to fund ambitious projects, including establishing a Mars colony and deploying space-based data centers, and recently acquired xAI.