SpaceX rockets to $2 trillion valuation on stock market debut

SpaceX completed its historic IPO on the Nasdaq, valuing the company at more than $2 trillion after raising about $75 billion through the offering. Shares priced at $135 and opened near $169, delivering the biggest stock market debut in history. Demand far outpaced supply, with retail investors bidding well over $100 billion before listing, and British buyers securing about 2.7 million of the 555 million shares sold for roughly £271 million. The debut made Elon Musk, SpaceX’s founder and CEO, the world’s first trillionaire thanks to his SpaceX stake and Tesla holdings.

Analysts have offered mixed verdicts on SpaceX’s valuation, pointing to potential moonshots such as orbital data centres and asteroid mining that may not materialize. On the day of listing, broader markets rose as oil prices fell and tensions with Iran eased, helping tech and growth stocks. Musk appeared via video from SpaceX’s Starbase in Texas to ring the opening bell and commented that in his day he doubted SpaceX would reach this point, underscoring the improbable odds the company has defied. The IPO reframed SpaceX’s growth story and attracted a global investor audience ahead of future fundraising.