SpaceX Shares Continue to Climb After Record IPO

SpaceX shares rose again on Monday, following significant gains since its market debut. The company’s initial public offering last Friday marked the largest in history, attracting immense attention from investors.

SpaceX, headed by Elon Musk, saw its shares climb approximately 6 percent in early Monday trading. On the day of its market launch, the company experienced a 20 percent surge. This impressive performance elevated Mr. Musk, age 54, to the status of the world’s first trillionaire, calming Wall Street’s concerns over the high valuation of his company.

Raising $75 billion with a valuation of $1.77 trillion, SpaceX achieved a historic milestone with its IPO. This move is seen as a potential guide for other tech giants like Anthropic and OpenAI, who are also eyeing public offerings this year. With the recent gains, SpaceX’s market value exceeded $2.2 trillion. Both Anthropic and OpenAI are anticipated to pursue valuations close to $1 trillion.

SpaceX’s IPO surpassed the previous record set by Saudi Aramco, the state-owned oil giant of Saudi Arabia, which raised over $29 billion in 2019. Mr. Musk has revolutionized the space industry with innovations like reusable rockets and the Starlink satellite internet service.

In February, SpaceX acquired xAI, Mr. Musk’s artificial intelligence company, also including the social media platform X. This merger aimed to strengthen Musk’s business endeavors, providing crucial financial resources to xAI, which has been heavily spending in an attempt to match rivals in the field.

Operating with contracts from NASA and other federal entities, SpaceX has been financially enigmatic since its founding in 2002. Often described as a financial haven for Mr. Musk, the company’s recent transparency in financial reporting preceded its market debut. Last month, SpaceX disclosed a loss exceeding $4.9 billion for the previous year, contrasting with a $791 million profit in 2024, primarily due to heightened investments in artificial intelligence. The company’s revenue saw a 33 percent increase to $18.7 billion last year.

Lauren McCarthy, a reporter with The Times’s Investigations team, contributed to this report.