Shares of Elon Musk’s SpaceX jumped 9.2% on Monday, 15 June, reaching $176 apiece after making a blockbuster debut on Nasdaq last week. The listing marked Wall Street’s largest public offering in history, giving the rocket maker a market valuation of more than $2 trillion and reportedly making Musk the world’s first trillionaire.
The stock , an 11% premium to its issue price of $135, and soon gained further momentum to touch an intraday high of $176.52 before ending its debut session at $160.95, representing a 19% gain over the IPO price.
Space Exploration Technologies Corp, as the company is officially known, is now the sixth largest publicly listed company in the United States, surpassing Musk’s own Tesla, which had a market capitalization of $1.45 trillion as of Friday’s close.
Taking Monday’s high into account, SpaceX’s market valuation surged past the $2.10 trillion mark. If the rally extends further in the coming sessions, the company could potentially overtake Amazon, which currently has a market value of around $2.50 trillion.
The strong debut has also helped sustain the AI-driven rally on Wall Street, further boosting investor appetite for high-growth technology and innovation-focused companies.
Meanwhile, Elon Musk says he would be surprised not to see a trillion-dollar revenue by 2031.
In a post on the X social media platform owned by SpaceX, Elon Musk offered this prediction: “I would be surprised if revenue is not greater than $1 trillion in 2031.”
Underwriters exercise the greenshoe option
Meanwhile, SpaceX’s underwriters exercised the greenshoe option, increasing the total size of the offering to $85.7 billion. The company had granted underwriting banks an over-allotment option to purchase an additional 83.3 million shares at the IPO price.
SpaceX’s IPO included a so-called greenshoe option, a standard feature in most large US stock market listings that acts as a stabilizing mechanism, allowing underwriters to support the stock price and limit sharp fluctuations in the weeks following the debut.
SpaceX is the first of three major IPOs seeking to capitalize on investors’ strong appetite for leading AI-related companies, a demand that has propelled benchmark US stock indices to record highs this year despite rising inflation and the economic disruptions caused by the conflict involving Iran.
Anthropic PBC and OpenAI, two of the company’s AI-sector peers, are also expected to go public as early as this year and could seek valuations of more than $1 trillion each.
Co-founded by Musk in 2002, SpaceX and providing satellite broadband internet to an aspiring AI juggernaut, whose deals providing computing infrastructure to Anthropic and Alphabet’s Google for as much as $2.17 billion a month are set to become its biggest source of revenue.
SpaceX started as a reusable rocket manufacturer, but the company’s most profitable business today is its Starlink satellite internet division.
SpaceX also acquired Musk’s artificial intelligence startup xAI, which itself acquired social media platform X in 2025. Musk originally purchased the platform, then known as Twitter, in 2022.
(With inputs from Bloomberg and Reuters)
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