Trading kicked off Friday for SPCX shares at $150, representing an 11% premium over the $135 IPO price, in what ranks as the largest initial public offering ever recorded. By early afternoon, SPCX had touched an intraday peak of $176.52.
The stock hit a first-day high of $176.52, making SpaceX the sixth most valuable U.S.-listed company
Ethan Swope / Bloomberg via Getty Images
Trading kicked off Friday for SPCX shares at $150, representing an 11% premium over the $135 IPO price, in what ranks as the largest initial public offering ever recorded. By early afternoon, SPCX had touched an intraday peak of $176.52.
A market capitalization exceeding $2.2 trillion placed SpaceX sixth among the most valuable companies listed in the United States. The roughly 30% run-up from the opening price drew intense attention from investors globally.
The opening bell ceremony featured both Elon Musk, joining remotely from Texas, and SpaceX President and COO Gwynne Shotwell, who was present on the floor of the Nasdaq $NDAQ in New York City, according to CNBC.
With SpaceX now publicly traded, Musk became the world's first trillionaire. At the $135 IPO price, Musk's SpaceX holdings carried a valuation of roughly $690 billion, with his Tesla $TSLA position contributing an additional approximately $279 billion to his overall net worth. Between the IPO pricing and a trading price of $172.15 — a span of under 24 hours — the combined worth of his SpaceX and Tesla holdings had swelled by more than $239 billion, according to MarketWatch.
During a pre-trading JPMorgan $JPM Chase livestream, Musk told viewers that the company has operated with positive cash flow since roughly 2015. Pursuing the IPO, he explained, was about securing the capital needed for an ambitious expansion that encompasses deploying a constellation of over 100,000 satellites and constructing AI data centers in orbit. SpaceX's prospectus shows the company has accumulated a total loss of $41.3 billion since it was founded in 2002, with Starlink, its satellite internet division, as the only profitable business unit today.
Of the total fees generated by the offering, Goldman Sachs $GS and Morgan Stanley $MS are each set to receive roughly $100 million, a combined share of about 40%, according to The Wall Street Journal. Banks overall stand to collect $500 million in fees on the offering.
The February 2026 acquisition of xAI folded Musk's AI venture into SpaceX, adding to the company's portfolio xAI's data centers, its Grok AI models, and ownership of the social platform X $TWTR, the service previously called Twitter.
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