SpaceX’s share price continued to rise on Monday, the company’s first full day of trading, adding to its sharp move higher on Friday after its record-breaking public listing.
Elon’s Musk’s rocket maker and artificial intelligence company rose about 6 percent in early trading on Monday. In a frenzied few hours of trading on Friday, the day of the company’s market debut, SpaceX rose nearly 20 percent.
The gain crowned Mr. Musk, 54, as the world’s first trillionaire and quelled jitters on Wall Street about whether investors would accept the company’s lofty valuation.
SpaceX’s initial public offering raised $75 billion at a valuation of $1.77 trillion, the largest I.P.O. on record. It has come to be seen as bellwether for other giant technology companies, namely Anthropic and OpenAI, seeking to go public this year.
After its latest gains, SpaceX was worth over $2.2 trillion in market value. Anthropic and OpenAI, which have developed foundational A.I. models and chatbots, are each expected to go public with valuations approaching $1 trillion.
SpaceX’s giant I.P.O. topped the previous record set by Saudi Aramco, Saudi Arabia’s state-owned oil company, that raised more than $29 billion when it went public in 2019.
Mr. Musk and SpaceX redefined the space industry with partly reusable rockets and a satellite internet service, Starlink. In February, SpaceX bought Mr. Musk’s A.I. company, xAI, which also owned the social media platform, X, in a sweeping move to consolidate his business empire. By merging the companies, Mr. Musk provided a financial lifeline to xAI, which has spent billions of dollars trying to catch up with its rivals.
SpaceX, which has contracts with NASA and other federal agencies, had long been something of a financial mystery and functioned, at times, as a kind of piggy bank for Mr. Musk since 2002, when the company was founded.
But last month, the company revealed a full picture of its finances for the first time in preparation of the market debut. It reported that it had lost more than $4.9 billion last year, compared with a $791 million profit in 2024, because of increased expenditures on A.I. Revenue was $18.7 billion last year, up 33 percent from the previous year.