Elon Musk’s SpaceX made a stunning debut on Wall Street on Friday, with shares jumping as much as 30 percent after what has been described as the largest initial public offering in history.
The blockbuster listing raised more than $75 billion and briefly pushed SpaceX’s market value above $2 trillion, making it one of America’s most valuable companies and cementing Musk’s position as the world’s first trillionaire.
SpaceX priced more than 555 million shares at $135 each ahead of its Nasdaq debut under the ticker symbol “SPCX”. During early trading, the stock climbed to as high as $175 per share, lifting the company’s valuation far beyond the levels reached during private fundraising rounds.
The offering attracted extraordinary demand from institutional and retail investors. Bloomberg reported that the IPO was more than four times oversubscribed. Retail investors also showed strong interest after SpaceX reserved 20 percent of shares for individual buyers.
The company could raise more than $86 billion if investors exercise options covering nearly 83 million additional shares.
Celebrations took place both at Nasdaq headquarters in New York and at SpaceX’s Starbase facility in Texas, where employees gathered to watch the trading debut.
Musk Pitches Vision of Mars and Space-Based AI
Speaking at an event in Starbase, Musk outlined the company’s long-term ambitions.
“SpaceX wants to be able to take you to the Moon, take you to Mars, and ultimately beyond,” Musk said.
“I’m confident at this point that with the incredible team that we have here at SpaceX, that we will do that for you.”
Founded in 2002 as a rocket company, SpaceX has evolved into a sprawling technology conglomerate. The company now combines launch services, Starlink satellite internet operations and artificial intelligence businesses under one corporate structure.
SpaceX recently integrated xAI, Musk’s artificial intelligence company, which also includes social media platform X and the Grok chatbot.
Investors are betting heavily on future growth. Company filings outlined plans that include expanding Starlink globally, developing space-based data centres and eventually supporting human settlements on Mars.
The filing also projected potential revenue opportunities exceeding $28.5 trillion across multiple future markets.
Investors Back Musk Despite Controversies
The IPO arrives just over a year after Musk left President Donald Trump’s administration, where he led the controversial Department of Government Efficiency initiative aimed at reducing federal spending.
Musk remains one of the world’s most polarising business leaders. His support for Trump, backing of right-wing political movements in Europe and frequent comments on X have attracted both praise and criticism.
Yet investor enthusiasm remains strong.
Revenue reached $18.7 billion in 2025, reflecting rapid growth across SpaceX’s businesses. However, the company reported a net loss of $4.9 billion as it continued investing heavily in artificial intelligence infrastructure and future projects.
The listing is expected to create thousands of new millionaires among current and former employees. It also provides a major test for investor appetite ahead of potential IPOs from artificial intelligence companies such as OpenAI and Anthropic.
Not everyone welcomed the milestone. Democratic Senator Elizabeth Warren criticised the development.
“The world will get its first trillionaire while Americans across the country are scraping together every dollar to save for retirement,” Warren said.
Despite the criticism, Friday’s debut marked a historic moment for both Wall Street and the global technology industry. It also reinforced Musk’s ability to attract investor support for some of the most ambitious projects in modern business.
