SpaceX stock opens above IPO price in record debut

Shares of SpaceX surged to $150 when trading began Friday morning, a gain of 11% over the $135 IPO price, with the company listing on the Nasdaq under the ticker SPCX. By later in the session, the price had climbed further to $160, representing a roughly 19% premium to what investors paid at the offering.

Trading kicked off at 11:46 a.m. Eastern time on a volume of 58.2 million shares. That opening price put SpaceX's market capitalization at $1.96 trillion, enough to rank it sixth among U.S. companies by value and above both Meta and Tesla.

The offering involved 555.6 million shares priced at $135 apiece, generating $75 billion in proceeds for the company. The deal was the largest IPO on record. At the offering price, the company was valued at $1.77 trillion.

To mark the listing, company president and COO Gwynne Shotwell appeared on the Nasdaq floor in New York City while founder Elon Musk joined the opening-bell ceremony from Texas via video link. "SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond," Musk said, according to The Wall Street Journal.

During a pre-debut JPMorgan Chase livestream, Musk told viewers that the company turned cash-flow positive around 2015 and that raising fresh capital to support an ambitious expansion was the driving motivation behind going public. Among the initiatives Musk outlined were placing upward of 100,000 satellites in orbit to support communications services and constructing artificial-intelligence data centers beyond Earth's atmosphere.

Of all SpaceX's operations, the Starlink satellite internet unit is the sole division currently generating a profit. SpaceX's prospectus shows the company has run up cumulative losses totaling $41.3 billion over the more than two decades since it was established.

In February 2026, xAI — Musk's artificial-intelligence startup — was folded into SpaceX, a deal that handed the rocket company ownership of xAI's data centers, the Grok AI models, and X, the social-media platform once called Twitter.