Elon Musk's SpaceX IPO pushes valuation past $1.7 trillion

SpaceX debuted on the Nasdaq with a fixed share price of $135, raising more than $75 billion in new capital. The offering valued the rocket company at roughly $1.75‑$1.77 trillion, quickly pushing its market capitalization above $2 trillion. The IPO is one of the largest public listings in history and places SpaceX among the world’s most valuable firms.

The proceeds support SpaceX’s expanding portfolio, which includes the Starlink satellite broadband service—now generating 60‑70 % of revenue with about 10 million subscribers—and the development of its AI venture, xAI. Elon Musk, who retains a substantial stake in SpaceX and Tesla, saw his personal net worth surpass $500 billion, making him the first person to reach a half‑trillion‑dollar fortune. Analysts note that the company’s aggressive push into reusable rockets, Mars colonisation plans and AI integration could reshape aerospace and technology markets, though they caution about potential stock‑price volatility in the early trading period.