Aerospace and artificial intelligence conglomerate SpaceX opened at $150 per share Friday, logging an 11 percent surge above its fixed $135 IPO price in the largest public debut in global history. The record-setting listing, which raised $75 billion and pushed SpaceX to a $1.96 trillion valuation, occurred as advancing U.S.-Iran ceasefire talks prompted a slide in global oil prices and triggered a broad risk-on rally across the Dow, S&P 500, and Nasdaq.
The ceasefire optimism that lifted U.S. markets also shifted global wealth rankings. While Gautam Adani reclaimed his title as Asia’s wealthiest individual following regional trade disruptions, the $75 billion SpaceX equity surge pushed CEO Elon Musk into unprecedented territory. Musk is now the world’s first trillionaire, with his net worth jumping to an estimated $1.1 trillion.
Intraday trading saw the stock climb as high as $162.98. The company’s valuation rests on its dual infrastructure pillars: the Starlink satellite network, which surpassed 8 million active subscribers, and the structural integration of xAI. That division, now operating internally as “SpaceXAI,” secured a $920 million monthly compute capacity deal with Google leading up to the IPO.
Capital reallocation was immediately visible across the broader Musk portfolio. Tesla shares slipped into negative territory, trading down 0.2 percent as institutional investors rotated funds into the aerospace listing. Competitor Virgin Galactic experienced speculative trading volume in the days preceding the SpaceX listing.
How the Nasdaq Fast Entry Rule Alters Passive Index Funds
The $75 billion equity raise breaks the previous $21.8 billion U.S. record set by Alibaba in 2014 and overtakes Saudi Aramco for the largest global offering. Beyond the sheer capital volume, the listing establishes strict new corporate governance precedents. SpaceX executed the offering with a mandatory shareholder arbitration clause, becoming the first major U.S. firm to require all public shareholder disputes to bypass traditional litigation.
Furthermore, the size of the $1.96 trillion float triggered the Nasdaq’s updated “fast entry” indexing rule. This mechanism accelerates the addition of mega-cap listings directly into the Nasdaq-100. The rule activation forces passive index fund managers to acquire SPCX shares immediately at the open market price rather than waiting for standardized quarterly rebalancing.