SpaceX Makes History with Record-Breaking Stock Market Launch

SpaceX has officially begun its journey as a publicly traded company, marking a historic moment for the financial world. The space exploration and artificial intelligence firm successfully raised $75 billion in its initial public offering (IPO) — a process where a private company first sells shares to the public. This debut is the largest in history, easily beating the previous record set by Saudi Aramco in 2019. With shares priced at $135 each, the company now holds an estimated market value of nearly $1.8 trillion.

According to BBC Business, the high demand for these shares shows that many investors are eager to own a piece of Elon Musk’s business. The offering was reportedly oversubscribed, meaning that investors offered to buy three or four times more shares than were actually available. While the excitement is clear, the path forward for the company is not without challenges. SpaceX reported a net loss of $4.9 billion in 2025, and some financial experts remain cautious about the high price of the stock.

The Guardian reported that the investment research group Morningstar has warned that the company might be overvalued. Michael Field, a chief equity strategist at Morningstar, suggested that there is a large gap between what the market expects and the company’s actual financial performance. He noted that while the Starlink satellite internet business has real strengths, other parts of the company, especially the AI division, rely on technologies that are still being tested. Because of these concerns, some critics, including US Senator Elizabeth Warren, had even called for the market regulator to delay the IPO to protect investors.

Despite these warnings, the listing is being watched closely as a test case for other major tech firms. Both OpenAI and Anthropic are expected to follow SpaceX by going public later this year. According to NPR Business, these three major IPOs could change how the market views artificial intelligence companies. Songyee Yoon, a partner at an AI-focused investment fund, described this as a "sobering moment." She explained that while private startups often attract money based on their future potential, public markets place much more value on current profits and clear business models.

One of the most unique parts of this deal is the level of control held by Elon Musk. Even as a public company, Musk will maintain roughly 40% of the total equity and more than 80% of the voting power. This means he will continue to have almost total control over the company’s board and its future direction. Some analysts, such as Angelo Bochanis from Renaissance Capital, have pointed out that this structure carries risks. He noted that Musk is involved in many different projects, including his recent work with the government, which could divide his attention away from the complex needs of SpaceX.

For many, the success of the IPO is a direct bet on Musk’s personal vision. Tom Mueller, the first official employee of SpaceX, told BBC Business that the company’s growth has been an "incredible ride." He recalled the early, difficult days when the company’s first rockets exploded before they finally reached orbit in 2008. Today, the company’s goals are much larger, including building bases on the moon and eventually sending humans to other planets.

As trading begins, the actual price of the shares will be decided by the open market. While some brokerage firms have set high target prices for the stock, others suggest that investors should wait for a more stable entry point. Regardless of the short-term price changes, the scale of this IPO ensures that SpaceX will remain a central focus for global investors for a long time. Whether the company can meet the high expectations of the public market remains to be seen, but for now, it has firmly established itself as one of the most valuable businesses in the world.