Elon Musk celebrates SpaceX's record-breaking debut. The company's value surprised the market
The company debuted on Nasdaq, and its shares reached a price of $150 at the opening. per piece. As a result, SpaceX became the sixth most valuable company in the United States, overtaking giants such as Meta and Tesla.
On Thursday, SpaceX set the share price in the largest public offering (IPO) in history at $135. per piece. However, for over an hour and a half after the official start of trading on Friday, trading was suspended due to the exchange rate balancing. Ultimately, quotations started at $150. per share, and the demand for the company's shares remained high throughout the session, although it weakened slightly at the end of the day.
SpaceX debut and record valuation
SpaceX started trading with a price of $150. per share, which resulted in the company's valuation just below USD 2 trillion. During the day, the share price continued to rise and at closing it reached USD 161, which meant an increase of 19%. and market capitalization of USD 2.1 trillion. It was the largest stock exchange debut in history, and investors acquired a total of 555.6 million shares.
Elon Musk, the founder of SpaceX, emphasized before the IPO that the company had recorded positive cash flow since around 2015. He also noted that entering the stock exchange is to enable obtaining capital for ambitious development plans, including the deployment of over 100,000 satellites in orbit and the construction of artificial intelligence data centers in space.
SpaceX, known for producing reusable rockets, currently generates profits mainly through its Starlink internet business. In February 2026, the company acquired Musk's xAI startup, along with its data centers, the Grok AI model, an advanced chatbot and the X social network, formerly known as Twitter.
Financial challenges and investments for the future
Despite a spectacular debut, SpaceX has recorded a deficit of approximately $41.3 billion since its founding in 2002. The company has already invested over USD 15 billion. in the development of the Starship rocket, which in the future is to be fully reusable and enable the return of NASA astronauts to the Moon and, ultimately, also to Mars.
According to the prospectus, SpaceX's communications division, based mainly on Starlink, generated $11.39 billion in 2025, which represented 61%. total sales. In the first quarter of this year, this share increased to 69%. The company informed investors about net losses incurred in the past and the possibility of lack of profitability in the future. Last year, the loss was $4.9 billion, and in the first quarter of 2026 – $4.28 billion. Both capital and operating costs are expected to increase with investment in Starship and artificial intelligence projects.
A new wave of AI company debuts
SpaceX is the first of three artificial intelligence companies worth more than $1 trillion. and which are debuting on the stock exchange this year. Anthropic and OpenAI have already announced similar plans. According to analysts, the total valuation of these three companies may exceed USD 3.6 trillion, which attracts the attention of technology investors. At the same time, some experts warn against the possibility of a correction in the markets, especially since the indices are close to historical peaks.
Mark Klein, CEO of SuRo Capital, pointed out that the current wave of IPOs resembles a panic that has been building for a long time. According to him, the debut of SpaceX may become a trend-setter on the market. Jeff Kilburg, president of KKM Financial, noted that the topic of artificial intelligence is gaining importance, and there has been some turbulence on the Nasdaq, which may be related to geopolitical tensions around the debut of SpaceX. He added that in his opinion the leadership of the so-called “The Magnificent Seven” should stick.
The impact of the geopolitical situation and the raw materials market
The oil market fell on Friday after President Donald Trump warned Iran that it “better get its act together” even though there were reports of a possible deal between the U.S. and Iran. Pakistan Prime Minister Shehbaz Sharif later announced that the “final, agreed text” of the agreement had been reached, which resulted in a partial rebound of the main stock indices.
Iranian state media reported that the draft U.S.-Iranian memorandum envisages the lifting of oil sanctions by the United States and the reopening of the Strait of Hormuz by Iran. According to Bloomberg, the signing of the peace agreement in Switzerland may take place as early as Sunday.
Analysts emphasize that the increasingly hawkish attitude of central banks and higher interest rates may negatively affect the valuations of technology companies. Lerner noted that with higher inflation there is a risk of a repeat of 1999-2000, when the Federal Reserve aggressively raised interest rates until the height of the dot-com bubble.
On the raw materials market, WTI crude oil contracts for July fell by 3.94%. to $84.25 per barrel, while August Brent futures dropped by 3.98%. to $86.78 per barrel.
