SpaceX begins trading on Nasdaq, surpasses Aramco's 2019 record IPO

SpaceX, Elon Musk's space and satellite company, began trading on the Nasdaq stock exchange in New York, pricing more than 555 million shares at $135 each and reaching a market valuation of roughly $1.8 trillion. The initial public offering raised more than $75 billion, with proceeds potentially exceeding $86 billion if underwriters exercise an option covering an additional 83 million shares. The offering surpassed the $29.4 billion raised by Saudi Arabia's state oil company Aramco in 2019, which had held the record for the largest IPO. SpaceX, founded by Musk in 2002, has expanded from a rocket manufacturer into a large-scale satellite operator and has incorporated Musk's artificial intelligence company xAI and the social media platform X, formerly known as Twitter. The company will trade under the ticker symbol "SPCX." The listing comes as several major artificial intelligence companies move toward public markets, with OpenAI and Anthropic having filed initial paperwork with regulators in recent months. At the Nasdaq MarketSite in Times Square, company executives rang the traditional opening bell to mark the debut.