SpaceX, the rocket and data center company, has debuted on the Nasdaq. Its shares surged 20% immediately after the IPO, marking the largest public listing in the world. The surge pushed the company’s market capitalization past the two-trillion-dollar mark. – SpaceX.
Elon Musk, the founder and CEO of SpaceX, holds a 38% stake now valued at approximately $800 billion. With his more than 10% Tesla stake valued at approximately $165 billion, along with holdings in Neuralink, the Boring Company, and additional investments, Musk has become the world’s first trillionaire.
His rocket company, now merged with OpenAI, intends to launch “data centers” into space. The company has applied to deploy up to one million compute satellites, after revealing the design of its proposed AI1 satellite earlier this month. SpaceX COO Gwynne Shotwell stated that the first AI1 units are scheduled to launch in late 2027, but the company plans to add compute capabilities to its existing Starlink broadband and Starlink mobile satellites before the AI1 debuts.
The AI data center proposal has drawn significant criticism, while the SpaceX IPO has faced broader scrutiny over its high valuation of a largely unprofitable business. Morningstar analysts consider SpaceX to be overvalued by 114 percent relative to its IPO price.
02 Jun 2026
