Space Exploration Technologies Corp. closed its first Nasdaq session at $161.11, up 19.34 percent from a $135 offer price, after raising roughly $75 billion in the largest IPO ever recorded. The listing surpasses Saudi Aramco’s 2019 debut and arrives with the kind of operatic scale the company’s founder has spent two decades cultivating as both engineering doctrine and capital-markets aesthetic.

Trading under the ticker SPCX, the stock opened at $150, ran to an intraday high of $176.52, and turned over more than 500 million shares. At the offering price, the roughly 555.6 million shares sold valued the company near $1.77 trillion; by the close, market capitalization sat around $2.1 trillion, ranking SpaceX the sixth-largest publicly traded company in the United States. Bloomberg reported that the debut made Elon Musk the world’s first trillionaire.

Goldman Sachs led the deal. Morgan Stanley is managing stabilization.

The prospectus is its own kind of document. SpaceX discloses $41.3 billion in accumulated losses since 2002 and reorganizes itself into three segments: Space Launch, Connectivity, and AI, the last seeded by an all-stock combination completed in February 2026 that folded xAI, the X social network, and the Grok model family into the company. The structure collapses Musk’s portfolio into a single legible equity story for institutional buyers.

“This was a successful launch, no doubt about it,” said Jay Woods, chief market strategist at Freedom Capital Markets, with the implied caveat that opening prints rarely hold.

Robert Greifeld, the former chief of the Nasdaq, said he “would definitely bet” that OpenAI and Anthropic follow SpaceX to public markets this year. The window, in other words, has been pried open by the largest private company in the world choosing to monetize itself at the moment retail and institutional appetite converge on a single thesis. The IPO record set in 2019 by a sovereign oil monopoly now belongs to a launch provider that also owns a social network.

Sources