SpaceX’s Historic IPO and Market Surge

SpaceX saw a strong start in the stock market with shares rising on Monday, following big gains during its debut on Friday. The company’s first full day of trading continued to show an upward trend, contributing to its impressive initial public offering (IPO).

On Monday morning, SpaceX’s stock climbed approximately six percent. This rally followed a nearly 20 percent increase on Friday, marking an exciting entry into the market for Elon Musk’s ventures in rocketry and artificial intelligence.

Musk, now 54, achieved the status of the world’s first trillionaire, easing some concerns on Wall Street about SpaceX’s high valuation. The IPO raised $75 billion with a valuation of $1.77 trillion, setting a new record. The success of SpaceX’s public debut is seen as an important indicator for other major technology companies, like Anthropic and OpenAI, that plan to enter the market this year.

With recent gains, SpaceX’s market value exceeded $2.2 trillion. Both Anthropic and OpenAI are anticipated to go public with valuations nearing $1 trillion each.

The historic IPO of SpaceX surpassed the previous record held by Saudi Aramco, which raised over $29 billion when it went public in 2019. SpaceX, under Musk’s leadership, has transformed the space industry by introducing reusable rockets and providing the Starlink satellite internet service.

Earlier this year, SpaceX acquired xAI, Musk’s AI firm, which also owns the social media platform, X. This merger consolidated Musk’s business interests and helped support xAI financially, as it had been spending large sums to stay competitive.

Despite its longstanding financial ambiguity, SpaceX disclosed its finances last month to prepare for the IPO. The company reported a loss of over $4.9 billion last year, influenced by increased AI-related expenditures, compared to a $791 million profit in 2024. Revenue grew to $18.7 billion, a 33 percent increase from the previous year.

Lauren McCarthy, part of The Times’s Investigations team, provides coverage on breaking news and other topics.