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SpaceX IPO raises record $85.7 billion as shares surge
🇵🇦 Panama /Economy & Trade

SpaceX IPO raises record $85.7 billion as shares surge

From TVN Panamá · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

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  • SpaceX raised a record $85.7 billion in its stock market debut on Friday.
  • The company's shares surged 20% on Monday, valuing it at over $2.5 trillion and placing it among the world's six largest companies.
  • SpaceX's valuation is driven by Elon Musk's ambitions for human spaceflight to Mars and in-space data centers for AI.

SpaceX shares soared 20% on Monday, a day after the company announced it had raised a record $85.7 billion in its stock market debut on Friday. This second day of gains solidified SpaceX's spectacular Wall Street debut, eclipsing previous major IPOs.

The company's stock rose 19.7% on Monday to $192.8, extending the 19% gain from its Nasdaq debut on Friday. Each SpaceX share was trading at $135 at Friday's opening. The two-day surge increased the market value of Musk's aerospace company to over $2.5 trillion, placing it among the world's six largest companies, ahead of Broadcom, Saudi Aramco, and Tesla, and just behind Amazon.

SpaceX sold nearly 639 million shares, with an additional 83 million shares, bringing the total raised to $85.7 billion, surpassing the initially projected $75 billion. Founded by Musk in 2002, the rocket startup has expanded into a major satellite operator and incorporated its AI company, xAI, which includes the social media platform X.

The company's valuation is largely based on Musk's promises that SpaceX will take humans to Mars and build data centers for AI in space.

DistantNews Editorial

Originally published by TVN Panamá in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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