The highly anticipated public offering, which amassed over $75 billion, is set to initiate a wave of significant IPOs by artificial intelligence (AI) firms in the upcoming months.
The debut on the Nasdaq stock exchange in New York concluded weeks of investor excitement over the transformation of the space company into an AI and satellite conglomerate.
During a launch event in Starbase, Texas, Elon Musk expressed SpaceX’s ambition to transport individuals to the Moon, Mars, and beyond. Musk highlighted the exceptional team at SpaceX, instilling confidence in achieving these goals.
Around 100 individuals gathered outside Nasdaq’s headquarters in New York, where SpaceX celebrated the occasion with a neon sign in Times Square.
Sarin Sio from financial firm Dovetail expressed admiration for Musk’s forward-thinking objectives, which have captured the enthusiasm of many individuals.
SpaceX priced over 555 million shares at $135 each in a filing with the US markets regulator, valuing the company at nearly $1.8 trillion. Within an hour of trading, the price surged more than 23% to $166.
Following the increase, SpaceX’s market capitalization rose to approximately $2 trillion on Friday, positioning it among the top 10 most valuable American companies, surpassing Tesla, Meta (formerly Facebook), and Walmart.
The potential addition of nearly 83 million shares could push the total funds raised above $86 billion.
Established by Musk in 2002, the rocket startup has evolved into a significant satellite operator and integrated Musk’s AI enterprise, including the social media platform, X.
Trading under the symbol “SPCX,” the conglomerate is closely monitored for its market reception and the implications for AI competitors seeking to go public soon, such as OpenAI and Anthropic, which recently submitted initial paperwork to regulators.
The IPO arrives just over a year after Musk departed from President Trump’s administration, following involvement in cost-cutting efforts while managing his roles at Tesla and SpaceX.
Despite controversies surrounding Musk’s affiliations and statements, the IPO attests to his enduring appeal among investors, with reports indicating overwhelming demand for the offering.
The public offering is anticipated to generate numerous new millionaires and possibly billionaires among former and current employees, alongside a diverse group of investors associated with the company.
SpaceX’s valuation hinges on Musk delivering futuristic promises, including space data centers and human missions to Mars using groundbreaking technology.
Moreover, the success of SpaceX’s Starlink satellite internet service and xAI, the developer of the Grok chatbot competing with OpenAI and Anthropic, is crucial for the company’s future growth.
To bolster its financial position, SpaceX is leasing out its AI computing resources to Anthropic and Google through substantial short-term agreements.
While SpaceX’s revenue surged to $18.7 billion in 2025, it incurred a net loss of $4.9 billion, primarily due to investments in AI capabilities.
SpaceX’s filing envisions generating over $28.5 trillion in revenue from various markets, underscoring ambitious growth prospects.
This achievement propels Musk to become the wealthiest individual globally, drawing mixed reactions, with some, like Democratic Senator Elizabeth Warren, criticizing the wealth disparity amid financial struggles faced by many Americans.
