SpaceX to make public debut on Wall Street: What to know
SpaceX makes record-breaking stock market debut
SpaceX, Elon Musk's rocket and artificial intelligence company, is set to begin trading on the stock market Friday. The highly anticipated debut is being closely watched and could influence how investors view other A.I. companies looking to go public. The company has already completed the largest stock market debut ever. SpaceX says its stock was priced at $135 per share and that more than 555 million shares will be sold.
Elon Musk’s rocket company SpaceX will make its debut on Wall Street Friday.
Musk could become the world's first trillionaire by the end of the day.
The 555.6 million shares are going up for sale at $135 apiece. Trading in the stock -- symbol, SPCX -- is expected later Friday.
Musk on Friday marked the opening of trading on Nasdaq, where the company's shares will be listed, by joining a ceremonial bell ringing from Starbase, the South Texas home of SpaceX.
What they're saying:
Musk reiterated his goals "to make life multi-planetary."
"Not just a few astronauts, I mean literally you," Musk said. "Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars and ultimately beyond."
Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel.
FILE - Elon Musk, founder and CEO of SpaceX, speaks via video before the ringing of opening bell at the Nasdaq Marketsite at the launch of the company's initial public offering (IPO) on June 12, 2026 in New York City. (Photo by Spencer Platt/Getty Im
The future of SpaceX
What's next:
SpaceX needs billions more than it currently takes in from its rocket and satellite business.
In addition to establishing a one-million person Martian colony, the company has promised to save humanity by establishing other outposts in space, launch data centers the size of football fields into orbit and outdo rivals Anthropic and OpenAI in the race to make money from artificial intelligence.
Between the start of 2025 and March 31, 2026, the company lost $8.7 billion.
SpaceX is the first of three "megacap" companies expected to go public this year, with Anthropic and OpenAI to follow.
Nasdaq even revised its rules to allow SpaceX to gain entry into funds tied to its indexes in 15 days, which means investors will end up buying the rocket maker's shares much earlier.
The Source: Information for this article was taken from The Associated Press.