Shares of SpaceX (NASDAQ:SPCX) closed up by over 20%, topping $160 today, following its initial public offering at $135 a share. The IPO is being interpreted as a financial success for the AI/Space/internet company and as the largest firm ever to go public, with a valuation of around $2 trillion. The company raised over $75 billion in new funding to continue to grow operations.
Trading ranged from a high of $176 to a low of $150 in the oversubscribed offering. Retail played an important role in the trading activity.
The IPO created multiple billionaires, and thousands of millionaires – many of whom were employees of the firm.
As for SpaceX founder Elon Musk, reports now peg his net worth at around one trillion.
Trading was robust, with over 500 million shares transacted.
While one day of trading is not indicative of future activity, public markets embraced the successful public offering as multiple firms are planning an IPO later this year, including big AI firms like Anthropic and ChatGPT.
Musk, who controls the company with 42% of the shares and voting control, celebrated the historic event, stating;
“I love the incredible people of SpaceX beyond words.”
While not everyone is bullish on the company’s near-term prospects or on investing in the firm, most everyone understands the pivotal role the company plays in the future of space, as well as its emerging AI business.
SpaceX is building the infrastructure of the future
— SpaceX (@SpaceX) June 12, 2026
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