SpaceX makes Wall Street debut with record IPO

Elon Musk's SpaceX officially began trading on Wall Street on Friday, marking its first day as a public company following the largest initial public offering in history. The IPO is expected to raise at least $75 billion, potentially making Musk the world's first trillionaire. The company's valuation places it among the top 10 largest companies on Wall Street, surpassing major firms like Tesla, Meta, and Walmart.

The stock opened at $135 per share, with early indications suggesting a potential 25% increase. Musk, speaking at a launch event in Starbase, Texas, reiterated his vision of sending humans to Mars and beyond. He emphasized the strength of his team at SpaceX, stating confidence in achieving these ambitious goals. The event was celebrated with a bell-ringing ceremony at the Nasdaq exchange in New York, attended by staff and investors.

SpaceX's IPO comes amid growing interest in AI companies, with OpenAI and Anthropic also preparing to enter the public market. The offering has drawn significant attention, with Bloomberg reporting that it was more than four times oversubscribed. Retail investors were also highly engaged, as 20% of shares were reserved for them.

Despite the financial success, some investors remain cautious. SpaceX reported a net loss of $4.9 billion in 2025 despite generating $18.7 billion in revenue. The company's valuation heavily depends on the success of its Starlink satellite internet expansion, the development of xAI, and ambitious projects such as space-based data centers and Mars colonization. If successful, the IPO could make Musk the first trillionaire in history.