SpaceX (SPCX) debuts on Nasdaq June 12 — shares soar 19% to $160 on open, valuation crosses $2 trillion, and Elon Musk becomes the world's first trillionaire
SpaceX began trading on Nasdaq under ticker SPCX on June 12. Shares opened at $150 and soared 19% to $160 within the first trading session, pushing market cap above $2 trillion and putting SpaceX into the world's top-ten most valuable companies. Trading volume crossed 360 million shares by early afternoon. Elon Musk — who owns nearly half of SpaceX stock — becomes the world's first trillionaire on the debut.
The substantive piece is the precedent. $75 billion raised at $1.77T cap is the largest IPO in market history, and the first-day pop puts the public market valuation above $2T immediately. For the AI industry — SpaceX absorbed xAI in February at the combined $1.25T valuation — the public-market read-through is favorable. The pricing on June 11 set the entry; the trade on June 12 confirms the demand thesis.
The AI-strategy frame is that xAI's Grok product line and the SpaceX/xAI distribution stack now have public-market scrutiny and public-market capital. Combined with the Cursor $60B acquisition option SpaceX holds, the developer-tools surface is on a Musk-controlled trajectory. For Anthropic and OpenAI — both pursuing their own IPO paths — the SPCX trading multiple becomes the comparable for what "frontier-AI-included" public-market valuations look like.
CNBC — SpaceX (SPCX) IPO: Live updates → · CNN — SpaceX launches $2 trillion market debut, making Elon Musk the world's first trillionaire → · Yahoo Finance — SpaceX IPO live updates: Elon Musk's SpaceX stock soars in market debut →