Record-breaking fundraising boosts SpaceX valuation

The completed share sale solidified SpaceX’s landmark Wall Street debut, surpassing previous record-setting IPOs and helping propel Elon Musk towards becoming the world’s first trillionaire.

The stock rose by as much as 8.7% on Monday, building on a 19% surge on Friday shortly after shares began trading on the Nasdaq.

By late morning in New York, SpaceX's market capitalisation exceeded $2.2 trillion, placing it among the world's seven largest companies, ahead of Broadcom, Saudi Aramco and Tesla.

Strong investor demand drives additional share sale

Robust investor demand prompted the banks managing the offering to exercise a "greenshoe" option, allowing the sale of additional shares beyond the original plan.

As a result, SpaceX sold nearly 639 million shares, including more than 83 million extra shares, raising a total of $85.7 billion, up from the initially targeted $75 billion.

Growth strategy and future ambitions

Founded by Musk in 2002, SpaceX has evolved from a rocket startup into a major satellite operator and has integrated his artificial intelligence venture, xAI, which includes the social media platform X, formerly known as Twitter.

The company’s valuation is largely driven by investor confidence in Musk’s long-term vision, including ambitious plans to send humans to Mars and develop space-based data centres using technologies that have yet to be proven.