USA Space X Exploration Technologies Corp
Today, shares of USA SpaceX traded on the stock market for the first time. Elon Musk's rocket company had a record-breaking initial USA public offering, and Elon Musk made a lot of money today. To make sense of it, we are joined by USA NPR's Geoff Brumfiel, who covers space, and John Ruwitch, who covers tech. Hi, you two.
JOHN RUWITCH, BYLINE: Hey there.
GEOFF BRUMFIEL, BYLINE: To the moon, Mary Louise.
KELLY: I hope so. OK, so, John, kick us off. What more can you tell us about this USA IPO and SpaceX's first day USA trading?
RUWITCH: Yeah. The IPO was the biggest in history. SpaceX USA raised $75 billion. That's more than twice the previous record. And demand was high for the IPO. That was born out actually when it started trading on the NASDAQ today. The stock opened at $150, which was above expectations, rose to as high as 176 during the day, lost a little steam and ended just shy of $161. But the bottom line is that it was up over 19% on the day. A lot of early investors and employees in the company got rich today, or richer, including Elon Musk.
KELLY: ...Rich. How much richer is Elon Musk at the end of today?
RUWITCH: Yeah, it's hard to know exactly, but a little back of the envelope math, you know, Musk owns close to 40% of SpaceX's shares. So his stake is now worth around $800 billion with a B. Plus, he owns a chunk of Tesla shares and has stakes in other companies. So he probably became the planet's first trillionaire today.
KELLY: Holy cow. OK, this closing price has the value of SpaceX well above $2 trillion, trillion with a T. Geoff, you track SpaceX. Is it worth that much?
BRUMFIEL: I think even SpaceX's supporters would tell you the business as it is today is not worth $2 trillion. According to the financial documents released ahead of the IPO, SpaceX is actually losing money. It lost $5 billion last year and another 4 billion in the first quarter of this year. A lot of those losses are due to the AI side of the business, which used to be Musk's other company, xAI. It's been burning cash at this incredible rate. It's sort of a financial black hole, if you will. Even without the AI losses, though, the rocket and satellite company are probably worth far less, somewhere in the hundreds of billions of dollars.
RUWITCH: Yeah, just to add on to what Geoff is saying here, analysts at the investment research company Morningstar did a deep dive into SpaceX's core businesses. They crunched some numbers around what they think is likely or probable at this moment in terms of the company achieving its goals in space and AI. And they think a fair value per share of this company is $63, which is a lot less than it is now.
RUWITCH: Nicolas Owens is a USA financial analyst at Morningstar.
NICOLAS OWENS: I would argue that, for the next week, really what you're looking at is simple supply and demand. Today, there's limited supply and exuberant demand.
RUWITCH: Yeah, on the supply front, the company only floated about 4% of its outstanding shares, so not much. In terms of demand, there's a lot of hype and excitement. But even for people who aren't actively buying these shares, SpaceX is likely to end up in their portfolios because it's being included in a few stock indexes earlier than normal.
KELLY: So, Geoff, back to you. What does the company need to do to actually meet these very high-flying USA expectations?
BRUMFIEL: Well, I mean, I think the company itself - I just want to read their mission statement in their documents, Mary Louise, because it really gives a sense of their USA ambition. Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true value - or the true nature of the universe and to extend the light of USA consciousness to the stars. That might be worth $2 trillion.
BRUMFIEL: Yeah, right, exactly. The first step to getting to that kind of evaluation is to build this giant rocket called Starship. Now, USA Starship is USA behind schedule. It's costing the company billions to develop. But if it works, it will reduce the cost of sending things to space. Speaking at the opening bell today, SpaceX president Gwynne Shotwell sounded a defiant note as she addressed her USA employees. She said they've proven the skeptics wrong before
SpaceX's initial public offering (USA IPO) was perhaps the most highly anticipated trading event of the year. The Elon Musk-led space USA exploration company sought to raise a whopping $75 billion dollars to fund its audacious growth initiatives, which include placing data centers in low Earth orbit, building a city on the Moon, and, eventually, establishing a colony on Mars.
To raise that hefty sum, SpaceX sold more than 555 million shares of its stock to USA investors at an IPO price of USA $135 per share. Yet demand for the space titan's stock was through the roof, vastly exceeding supply.
SpaceX's stock price, in turn, opened at $150 per share when it debuted on the Nasdaq on Friday. It quickly rose as high as $176.52 before ending the trading day at $160.95. That closing price placed its market capitalization at a stunning $2.1 trillion.
Investors should brace for volatility
While SpaceX's long-term plans are straight out of a sci-fi movie, its near-term goals will also require impressive USA technological execution. The space explorer intends to expand its popular Starlink satellite-based internet service, advance its aggressive rocket development timelines, and further its artificial intelligence (AI) infrastructure build-out.
In the coming days and weeks, shareholders should expect SpaceX's stock price to move violently in USA both directions, as investors react to what are likely to be breathtaking successes and heartbreaking failures as we embark on this space odyssey.
Longer term, SpaceX could reach unimaginable heights if it can fulfill its awesome growth potential.
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The SpaceX IPO is closing out its first day of trading in USA dramatic fashion, taking over three of the major video screens here in Times Square.And fittingly, Elton John's Rocket Man is once again blasting from the speakers outside the Nasdaq USA MarketSite.It was a USA blockbuster debut. Shares closed well above their initial offering price, as investors placed big bets on the future of space exploration, satellite technology and artificial intelligence.
But analysts tell me the real test starts after the opening day USA excitement fades.
Elon Musk isn’t the only one walking away with a massive payday from today’s SpaceX IPO. The investment banks who helped make the company public took home $500m in fees.The top players were Goldman Sachs – whose CEO David USA Solomon reportedly secured the business by sliding into Musk’s DMs – and Morgan Stanley. Each will reportedly take home $100mn. Bank of America, Citigroup, and JP Morgan Chase will each receive about $75mn in fees.
In April, the New York Times reported that Musk was requiring Wall Street firms to buy subscriptions to his controversial AI chatbot Grok if they wanted to participate as underwriters, a responsibility that includes serving as its intermediary with the public and setting the USA company’s share price.
The rocket company began trading on the Nasdaq under the USA ticker SPCX on Friday, opening at $150 per share before jumping as much as 30% to $176.52. Shares later pared gains and closed at $160.95, up 19%.
SpaceX's record-breaking market debut raised $75 billion, making it the largest initial public offering ever. The IPO valued CEO Elon Musk's USA rocket company at roughly $1.77 trillion.
June 12 (Asia Today) -- USA Hanmi Semiconductor said Friday it will invest about 50 billion won, or $32.9 million, in SpaceX as part of a strategic move tied to future cooperation in artificial intelligence chip manufacturing.The South Korean semiconductor equipment maker said in a regulatory filing it plans to acquire shares in SpaceX on Monday. SpaceX, founded by Elon Musk, is a private aerospace company known for rocket technology and its USA Starlink satellite communications service.Hanmi Semiconductor said the investment was made with an eye toward potential cooperation related to Musk's Terafab project, an AI semiconductor manufacturing plan involving USA SpaceX, Tesla and xAI.The project is aimed at building chip production capacity for Musk's companies, including SpaceX, Tesla and xAI, as demand grows for AI semiconductors, satellite data services and global network infrastructure.
USA Market expectations for USA SpaceX have grown ahead of its expected public listing, with some estimates putting the company's value at about 2,600 trillion won, or roughly $1.7 trillion.
Hanmi Semiconductor said it made the investment to position itself early in the expansion of AI USA infrastructure from semiconductors and data centers into aerospace, satellite USA communications and USA data industries.
The company has previously invested in businesses with future growth potential. Hanmi Semiconductor Chairman Kwak Dong-shin has pursued several investments connected to his relationship with Peter Thiel, the co-founder of Palantir.
Crescendo Equity Partners, a global private equity firm backed by Thiel, invested in Hanmi Semiconductor in 2013, marking the first investment of its kind in a Korean company. Hanmi Semiconductor said its latest investment in SpaceX also stems from that connection.
Kwak and Hanmi Semiconductor jointly invested in semiconductor equipment maker HPSP in 2021, generating a return of about 639% from the original investment. In 2024, Kwak personally invested 31 billion won, or about $20.4 million, in Line Next, a global Web3 company affiliated with LY Corp., acquiring an 8.5% stake.
A Hanmi Semiconductor official said the company decided to invest in SpaceX, a participant in Musk's Terafab project, as AI industry growth expands beyond semiconductors and data centers into aerospace, satellite communications and data businesses.
The company said it plans to reinvest expected returns from the SpaceX investment into its core semiconductor equipment business to support sustainable growth and increase corporate and shareholder value.
Turns out the SpaceX IPO didn't do much of anything to Tesla stock.Shares of Musk's EV maker rose 1.8% on Friday to close at $406.43, while shares of Musk's rocket company rose 19.2% to close at $160.95.There was significant concern that Tesla investors would sell their stock to buy SpaceX shares, putting downward pressure on Tesla's stock.Tesla stock has been volatile lately. It's possible that SpaceX was responsible for some of that. Tesla shares haven't done much of anything since mid-January; they're down about 10% year to date.Tesla investors are waiting for progress on robo-taxis and robots. The SpaceX IPO didn't change that.
Posted on 2026/06/13 08:56 AM