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Elon Musk’s SpaceX officially began trading as a public company on Friday, marking the largest initial public offering in history.
The record-setting IPO is set to raise at least $75 billion, potentially making Musk the world’s first trillionaire and paving the way for upcoming AI-focused offerings.
The debut on the Nasdaq drew significant attention, with early indications suggesting shares could rise as much as 25 per cent above the $135 initial public offering price. Outside the New York Stock Exchange, around 100 people gathered to witness SpaceX president Gwynne Shotwell ring the opening bell, while staff and investors applauded the milestone.
Musk framed the IPO as more than a financial event, highlighting SpaceX’s bold ambitions.
“SpaceX wants to be able to take you to the Moon, take you to Mars, and ultimately beyond,” he said at a launch event in Starbase, Texas.
“I’m confident at this point that with the incredible team that we have here at SpaceX, that we will do that for you,” he added.
The IPO places SpaceX among Wall Street’s largest companies with a valuation just under $1.8 trillion, surpassing Tesla, Meta, and Walmart. The offering includes options for nearly 83 million additional shares, potentially pushing total funds above $86 billion.
Since its founding in 2002, SpaceX has expanded from rocket launches to satellites and artificial intelligence, incorporating Musk’s xAI company and the social media platform X (formerly Twitter). Analysts note that the valuation hinges on Musk delivering ambitious projects, from Starlink satellite expansion to space-based data centres.
While revenue reached $18.7 billion in 2025, SpaceX reported a $4.9 billion net loss, largely due to AI investments.
Still, demand for the IPO was extraordinary, reportedly more than four times oversubscribed.
“Musk sets very futuristic goals that no one else is doing, and I think that has got a lot of people excited,” said Sarin Sio of financial company Dovetail, reflecting investor enthusiasm.
With the world watching, SpaceX’s Wall Street debut underscores the enduring appeal of Musk’s vision, even amid controversy and sets the stage for a new era of space exploration and AI investment.
