SpaceX Shares Soar on Debut, Market Cap Hits $2.2 Trillion

June 13, 2026

New Delhi, June 13: Elon Musk’s company SpaceX made a spectacular debut in the U.S. stock market with its initial public offering (IPO). The company’s shares provided early investors with gains of up to 31%, closing 19% above the offering price of $135 by the end of trading.

The shares finished at $160.95, pushing SpaceX’s total market capitalization to approximately $2.2 trillion on its very first trading day. This achievement also made Elon Musk the world’s first trillionaire. With this, SpaceX became the sixth most valuable public company globally on its debut.

SpaceX’s entry into the market comes at a time when investor enthusiasm is primarily driven by the potential of artificial intelligence (AI) this year.

Through this IPO, the company raised nearly $75 billion, marking one of the largest IPOs in history. The listing received an overwhelming response from both institutional and retail investors. Reports indicate that total orders exceeded $350 billion, yet about one-third of investors were unable to secure shares. Demand from retail investors alone surpassed $100 billion.

Analysts suggest that the merger of Musk’s AI company, xAI, with SpaceX in 2026, along with the company’s growing efforts in the AI sector, presents this IPO as a significant test of market enthusiasm for AI-based business models.

However, some analysts have cautioned that the company’s high valuation may outpace its fundamental financial performance. SpaceX recorded a net loss of $4.28 billion in the first quarter of 2026.

According to data, the largest first-day gain for an IPO raising $1 billion or more in the U.S. is held by design software company Figma, whose shares surged by 250% on its listing day in 2025. However, much of that initial surge has since evaporated, with its shares now trading about 45% below the IPO price.

Meanwhile, following Musk’s rise to trillionaire status, Democratic leaders in the U.S., including Senator Elizabeth Warren from Massachusetts and Representative Ro Khanna from California, have called for a wealth tax on the nation’s richest individuals.