SpaceX soared past a $2 trillion valuation after its shares jumped more than 20% in its Nasdaq debut on Friday, as investors piled into the world's largest IPO and bet on Elon Musk's sprawling empire spanning rockets to AI.
The stock opened for trading at $150, compared with the IPO price of $135 per share. It was last trading at $164, making it the sixth-largest U.S. company by market value.
The deal was being closely scrutinized because of the stakes for the IPO market, which some bankers said could face difficulties if SpaceX shares closed below Thursday's pricing level.
The company's market debut is widely viewed as a dress rehearsal for a new generation of mega-listings, with market participants watching for signals on investor appetite ahead of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.
The stock's performance will be a test for the so-called "Musk premium," which has been the force behind Tesla's $1 trillion-plus valuation, despite coming under pressure during Musk's active role in President Donald Trump's administration.
