SpaceX, the rocket and satellite company run by Elon Musk, just had its first day trading on the stock market, and its total value shot past 2.1 trillion dollars.
An IPO is when a company sells shares to the public for the first time so regular investors can buy a piece of it. SpaceX sold more than 555 million shares at $135 each and raised 75 billion dollars, the most money ever collected in a single IPO. On its first day of trading, the share price jumped almost 20 percent, pushing the company's total value above 2.1 trillion dollars. To put that in perspective, the previous record was set in 2019 by Saudi Arabia's oil company Aramco, which raised about 29 billion dollars — SpaceX raised more than twice as much.
Despite the huge value, SpaceX is not making a profit right now. In 2025 the company earned 18.7 billion dollars in revenue but lost almost 5 billion dollars, mostly because building the next-generation Starship rocket costs a lot of money. Its main moneymaking businesses today are the Falcon 9 rocket, which launches satellites and cargo, and Starlink, the satellite internet service used by people in remote areas.