Elon Musk’s rocket, satellite, and AI company SpaceX is finally trading on Wall Street after what feels like a very long buildup to its IPO. The company priced its shares at $135 each Thursday evening, giving SpaceX a valuation of roughly $1.77 trillion and making it the largest stock debut in history. SpaceX sold 555 million shares during the offering, raising $75 billion.
Shares of SpaceX are now trading on the Nasdaq under the ticker symbol SPCX. The highly anticipated IPO has instantly made SpaceX one of the most valuable companies in the world and is set to make Musk the world’s first trillionaire. It may have also made some Trump administration officials richer. The listing also gives ordinary investors one of their first chances to buy shares in a major AI company outside of established tech giants like Meta, Microsoft, and Alphabet. SpaceX acquired xAI, parent company of the social media site formerly known as Twitter and the controversial Grok chatbot, earlier this year. Its AI rivals OpenAI and Anthropic also plan to go public this year.
Part of SpaceX’s pitch for its massive IPO is that the company has future earnings potential that frankly has never been claimed by any company in history. In its IPO filing, the company estimates it has a $28.5 trillion total addressable market, with roughly $26.5 trillion expected to come from AI alone.
