SpaceX shares opened at $162 on Friday, marking a strong start to one of the most closely watched IPOs in recent years.
The aerospace and satellite Internet company priced its IPO on Thursday at $135 per share. SpaceX sold 555.6 million shares and raised $75 billion in what stands as the largest IPO ever.
Bitcoin was roughly flat at $63,400, while AI-related crypto stocks saw modest gains.
Trading under the ticker SPCX on Nasdaq, the company had been valued at about $1.8 trillion based on the IPO.
The debut gives public investors their first chance to own shares in a company that has reshaped the commercial space industry through reusable rockets and built one of the world’s largest satellite networks through Starlink. The satellite internet business has become an important source of growth, serving customers in remote areas where traditional broadband can be difficult to access.
SpaceX generated about $19 billion in revenue last year from launch services, government contracts and Starlink operations.
