SpaceX has officially begun trading on the Nasdaq in what analysts describe as the largest initial public offering (IPO) in history.
The aerospace company raised $75 billion through its IPO and entered the public market with an initial valuation of $1.77 trillion. Investors expect the stock to climb further during its first trading session, potentially pushing the company’s value above $2 trillion.
The listing marks a major milestone for SpaceX after more than two decades as a privately held company. It also places the company among the world’s most valuable publicly traded firms despite reporting operating losses in recent years.
The IPO has also boosted the fortunes of founder Elon Musk. Musk owns about 38% of SpaceX, and the listing is expected to make him the world’s first trillionaire based on the market value of his holdings.
SpaceX priced its shares at $135 before trading began. Grey market trading and analyst estimates suggested the stock could open around $175, reflecting strong investor demand for the company.
Institutional investors showed significant interest in the offering. Reports indicated that demand exceeded the number of available shares by three to four times, making the IPO one of the most sought-after listings in recent years.
The company plans to use the proceeds to fund ambitious projects, including expanding its Starlink network, advancing reusable rocket technology, and supporting long-term plans for human missions to Mars. Executives have also outlined investments in artificial intelligence and space-based computing infrastructure.
Despite the excitement, some analysts have questioned SpaceX’s valuation. They argue that the company still generates relatively modest revenue compared with other technology giants of similar size. Others have also warned that retail investors should prepare for sharp price swings during the first days of trading.
The IPO has also created substantial wealth for thousands of SpaceX employees. More than 4,400 workers now hold shares worth at least $1 million, according to reports released after the offering.
Market participants will closely watch the stock throughout its first trading day. Analysts expect the debut to influence investor sentiment toward upcoming technology listings and reshape the market for large-scale IPOs.
