- SpaceX crosses $220 overnight, up 63% from the $135 IPO price, valuing the company at nearly $2.9T.
- IPO raised a record $85.7 billion after greenshoe exercise, surpassing the original $75 billion target.
- Musk’s net worth crosses $1.3 trillion as SpaceX and Tesla combined surpass Apple at $4.4 trillion.
SpaceX was trading above $220 per share in overnight trading, up 63% from its $135 IPO price and valuing the company at nearly $2.9 trillion, less than $100 billion away from surpassing Microsoft as the world’s second most valuable public company.
The IPO itself broke every record in history. After underwriters exercised the greenshoe overallotment option, SpaceX raised $85.7 billion, surpassing the original $75 billion target. No IPO in history has come remotely close to this scale.
Elon Musk’s net worth has crossed $1.3 trillion. He is now worth more than the market cap of all but 12 public companies in the world. SpaceX and Tesla combined carry a market cap of $4.4 trillion, larger than Apple and roughly equivalent to Google.
The Six-Month Warning
JPMorgan Asset Management global market strategist Stephanie Aliaga offered a more measured view amid the euphoria, warning investors to expect volatility in SpaceX stock over the next six months.
The reason is structural. Only a small fraction of the total SpaceX supply hit the market on day one. Approximately 4.5% of available shares traded on the first day. As lockup periods expire and passive index funds complete their rebalancing, supply will increase significantly. Aliaga identified the six-month mark as the point where that increased supply could create meaningful price volatility.
She also said that while several high-profile AI company IPOs are expected to follow SpaceX, the broader IPO market will remain selective. Many AI companies across robotics, healthcare, and logistics remain private deliberately, and when they eventually go public, much of their growth will already have occurred.
What’s Coming Next?
Total IPO issuance in 2026 is projected at approximately $260 billion. The AI capital race is accelerating simultaneously. Alphabet launched a massive equity offering. Nvidia tapped corporate bond markets. Anthropic and OpenAI are expected to follow SpaceX to public markets. The race to capital is now as defining a story as the race to IPO was just weeks ago.
Related: SpaceX Could Reach $50 Trillion Valuation in Five Years, Investor Says
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