SpaceX surged 11% on its Nasdaq debut Friday, opening at $150 versus the $135 IPO price. The jump valued the rocket and AI firm at roughly $2 trillion, eclipsing the combined market caps of Walmart and General Motors. The offering raised $75 billion, the largest ever, and instantly made Elon Musk the world’s first trillionaire.

About 555 million shares—just over 4% of SpaceX’s equity—were sold to institutional investors, wealthy individuals and retail participants. The IPO’s scale sets the stage for upcoming mega‑listings by AI firms OpenAI and Anthropic, each tipped at near‑$1 trillion valuations. Analysts note that limited float could drive short‑term volatility as demand outstrips supply.

Proceeds will service SpaceX’s debt and fund moonshot projects, from orbital AI data centers to a lunar manufacturing facility and crewed Mars missions. While the company posted a $4.9 billion loss last year, revenue rose 33% to $18.7 billion, underscoring aggressive growth. The market now watches whether the trillion‑dollar valuation can sustain performance.

Index providers fast‑tracked SpaceX’s inclusion, prompting fund managers to acquire the stock en masse. Underwriters—including Goldman Sachs, Morgan Stanley and JPMorgan—handled the deal, while Musk celebrated at Starbase with employees, many of whom became millionaires instantly. The listing marks the first time three trillion‑dollar entities could debut in a single year.