SpaceX has gone public in record-setting fashion. Shares of Elon Musk's rocket company rose 19% from their initial public offering price of $135 to close at $161.11 on their first day of trading on the Nasdaq.
Biggest IPO ever
Trading under the ticker SPCX, the offering valued SpaceX at about $1.77 trillion, making it the largest IPO in history. Shares jumped further in subsequent sessions as investors clamoured for exposure to the company's launch and Starlink satellite-internet businesses.
More to come?
The blockbuster debut has fuelled speculation that other tech giants could follow. Former Nasdaq chief Robert Greifeld said he "would definitely bet" that OpenAI and Anthropic follow SpaceX to the public market this year.
Sources: CNBC, TheStreet.