SpaceX shares jump 19% on debut, closing at $160.95

SpaceX’s Nasdaq debut on Friday saw its stock close at $160.95, a 19 % gain on the opening day of trading [1]. The offering, the largest IPO ever, raised about $75 billion and pushed the company’s market value past $2 trillion [2].

Key takeaways

• Shares opened at $150 and peaked over a 30 % surge, briefly valuing SpaceX above $2.25 trillion [1]
• The IPO sold more than 555 million shares at $135 each, making it the biggest ever by dollar amount [2]
• SpaceX reported a net loss of $4.3 billion in the first quarter of the year, and analysts at Morningstar value the firm at roughly $780 billion, citing profitability concerns [2]
• Elon Musk rang the Nasdaq opening bell from Starbase, Texas, while executives including Gwynne Shotwell and CFO Bret Johnsen did so in New York [2]
• The company plans to expand its rocket and satellite businesses and double‑down on artificial‑intelligence initiatives, including AI microchips and “orbital AI compute infrastructure” [2]

Record‑setting IPO and first‑day trading dynamics

The offering, filed under the ticker SPCX, was priced at $135 per share, and the stock opened at $150 on its first day [1]. At one point, the price surged more than 30 % before settling at a 19 % gain, closing at $160.95 [1]. The rapid rise briefly lifted SpaceX’s market capitalization to over $2.25 trillion, making it one of the world’s largest listed companies on debut [1]. The IPO’s scale was underscored by the sale of over 555 million shares, a volume that set a new record for the biggest public offering by proceeds [2].

The launch day was marked by a high‑profile ceremony: Musk rang the Nasdaq opening bell from the company’s Starbase facility in Texas, while Shotwell and Johnsen joined the ceremony on the Nasdaq floor in New York [2]. A Falcon 9 rocket lifted off from Florida an hour before the market opened, delivering Starlink broadband satellites as part of the company’s broader satellite communications business [2].

Investor sentiment and future outlook

While the market rewarded the debut with a strong first‑day gain, analysts expressed caution. Morningstar’s valuation of SpaceX at $780 billion—far below the $2 trillion market cap—reflected concerns over the firm’s lack of profitability and a reported $4.3 billion net loss in the most recent quarter [2]. The analysts highlighted “very high” uncertainty around the company’s business model, governance under Musk, and execution of its AI and space initiatives [2].

SpaceX’s prospectus outlined plans to grow its flagship rocket and satellite services and to pursue an AI pivot, including the development of AI microchips and space‑based data centers [2]. The IPO is also seen as a barometer for investor appetite for AI‑related technology firms, with other major players such as and Anthropic expected to follow later in the year [2].