The moment that Wall Street had anticipated all year arrived on Friday as SpaceX, the AI and aerospace company controlled by Elon Musk, began trading publicly on the Nasdaq in the largest initial public offering (IPO) in the history of financial markets.
In a speech before the New York session opened for trading, Musk stated that SpaceX's goal is to "take the fiction out of science fiction."
SPCX opened at $150, over 10% above its $135 IPO price, and it was already at more than $160 after the first few minutes of live trading.
The company confirmed on Thursday that it had priced 555.6 million Class A shares at $135 each, valuing the firm at roughly $1.78 trillion (€1.54trn) and targeting a raise of $75 billion (€64.5bn) that instantly eclipsed Saudi Aramco's $29.4 billion (€25.4bn) listing, which had stood as the global record for almost seven years.
Only around 3% to 4% of SpaceX shares are currently available for public trading.
