Strong IPO demand lifts SpaceX as investors bet on Elon Musk’s expanding tech empire.
Image: CNA
SpaceX surged on its Nasdaq debut on Friday, pushing its valuation above $2 trillion after a strong first day of trading.
The stock opened at $150, above its IPO price of $135, and later rose to around $164 as investors rushed into the listing.
The debut ranks among the largest IPOs in history and signals strong investor appetite for high-growth technology firms.
The listing also highlights growing market expectations around Elon Musk’s broader business ecosystem, including space, satellite internet and artificial intelligence.
Elon Musk has previously described SpaceX’s long-term opportunity as spanning trillions of dollars, driven by rocket launches and its Starlink internet business.
Despite rapid revenue growth, analysts note the company is still operating at a loss and trades at a high valuation compared to traditional aerospace and tech firms.
The strong debut is seen as an important test for future mega-IPOs in the technology sector and could influence upcoming listings in the AI industry.
