SpaceX closed its first day on the Nasdaq at $161.11, up 19.34% from its $135 offer price, completing a $75 billion sale of 555 million Class A shares that ranks as the largest IPO ever recorded and lifts the company’s market capitalisation above $2 trillion. SPCX opened at $150, touched an intraday high of $176.52, and ended Friday as the sixth-largest publicly traded U.S. company, with roughly 13.076 billion shares outstanding per the S-1.

Elon Musk’s personal wealth crossed $1 trillion on the move. He spent Thursday evening in Texas, reminding staff before the market open that he had originally given the 2002 venture a “less than 10% chance of succeeding.” It’s the kind of founding-myth quote that gets deployed precisely when the numbers no longer need it.

The numbers themselves are more complicated than the headline. Consolidated 2025 revenue was $18.7 billion, with Starlink contributing $11.4 billion and $4.4 billion in operating profit. The xAI division, folded in via the February 2026 acquisition that bundled Grok, Colossus and X under the same balance sheet, posted $3.2 billion in revenue against a $6.36 billion operating loss. Group net loss for the year: $4.9 billion.

Goldman Sachs, lead-left on the deal, rose nearly 3%. CFRA initiated at a $115 price target, flagging Starship execution as a dependency risk. NYU’s Aswath Damodaran called the prospectus’s addressable-market figure “a hallucination.”

MSCI adds SPCX to its global indices Saturday, forcing passive bids. The 180-day insider lockup expires in December; the first audited earnings statement is expected in November. The listing window that slammed shut in late 2021 is, for now, propped open by a single name.

Sources