SpaceX Shares Surge 19 Percent on Nasdaq Debut, Pushing Market Cap Past $2 Trillion

SpaceX shares surged 19 percent on their first day of trading on the Nasdaq on June 13, 2026, pushing the company's market capitalization past $2 trillion and establishing it as the sixth-largest U.S. company by market value.

The company priced its IPO at $135 per share, raising approximately $75 billion in what is described as the largest initial public offering in history. The stock opened significantly above its IPO price and continued to climb throughout the trading session.

The debut was driven by strong demand from institutional and retail investors who see SpaceX as a convergence play on space technology, satellite internet through its Starlink service, and AI computing infrastructure.

"This is not just a space company," said one analyst quoted in Reuters coverage. "SpaceX is positioning itself as a critical piece of global communications and AI infrastructure, and investors are pricing that in."

The IPO proceeds are expected to fund continued development of the Starship rocket, expansion of the Starlink satellite network, and investment in AI computing capabilities.

Some analysts raised questions about the sustainability of the valuation, noting that SpaceX's revenue, while growing rapidly, does not yet justify a $2 trillion market cap on traditional metrics.

The debut contributed to a positive day for U.S. markets more broadly, with optimism surrounding potential Middle East peace developments also supporting gains.

SpaceX founder Elon Musk, who also leads Tesla and xAI, saw his net worth increase significantly as a result of the IPO, with some reports suggesting the debut pushed him to become the world's first trillionaire.

The listing gives SpaceX access to public capital markets for the first time, allowing retail investors to participate in the company's growth alongside the institutional investors who have backed it for years.