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(Bloomberg) -- Friday’s debut share surge for SpaceX is bolstering the fortunes of one of Saudi Arabia’s richest men. Most Read from BloombergWhy Musk Raced to Take SpaceX Public in the World’s Biggest IPOTrump Eyes Sunday Iran Deal But Tehran Says Still Reviewing TextAnthropic Shuts Down Mythos Access After Sweeping US OrderUS Wants to Avoid Congressional Vote on Trade Deal, Carney SaysAir India Plans to Downsize With Owner Tata Balking at LossesPrince Alwaleed bin Talal’s investment firm Kingd
Rivian began delivering its affordable R2 fleet this week in a push to bring the company to the mainstream.
A second Musk-led megacap is now publicly traded -- and that quietly changes a few things for the electric-car maker's investors.
Venture capitalist Steve Westly says SpaceX is "three moonshots in one company" and the math only works if most of them pay off. On June 12, SpaceX (SPCX) just pulled off the biggest initial public offering in stock market history. The company raised $75 billion, priced shares at $135 each, ...
Cathie Wood's firm ARK Invest staked a large position in Elon Musk's SpaceX on Friday. The firm already has a huge chunk of Tesla stock.
FTSE Russell confirmed SpaceX will join the Russell 1000 and Russell Top 200 on June 26, with MSCI adding it to its standard and large-cap indexes on June 29.
The upcoming SpaceX IPO, which is scheduled to kick off on Friday, June 12, could result in Tesla Inc. investors exiting their positions in the EV giant, according to investor Gary Black of The Future Fund LLC. Investors To ‘Lighten’...
ArcBest's ABF Freight unit is expanding its electric trucking program with new Tesla Semi trucks beyond its initial California and Nevada pilot route. This move shifts the Tesla Semi use from a limited trial to broader deployment across more of ArcBest's network. Early feedback points to a positive driver experience and solid operational performance for the electric trucks. For investors following NasdaqGS:ARCB, this development adds another piece to the story around how the company is...
SpaceX roared into markets this past week with a valuation of more than $2 trillion, surpassing two members of Wall Street's "Magnificent Seven" and raising a key question: Does the Mag 7 name still fit? And if not, what should replace it? The IPO, the biggest in U.S. history, vaulted SpaceX's value above two Mag 7 members: CEO Elon Musk's other company, Tesla, and Meta Platforms. With SpaceX's arrival, "it becomes very hard to keep using Mag 7 as the clean shorthand for market leadership because one of the most important companies in the world would immediately be outside the label," said Shay Boloor, chief market strategist at Futurum Equities.
REVIEW PREVIEW NEWSLETTER To Infinity and Beyond. There are 3,362 companies listed on the Nasdaq Composite. On Friday, only one seemed to matter. SpaceX, Elon Musk’s rocket and AI company, opened for trading at 11:46 a.
SPCX ended its debut trading session up 19%, while TSLA closed Friday 2% higher.
<body><p>STORY: The world's biggest ever IPO ended with Elon Musk's SpaceX gaining 19% in its debut session Friday, as investors piled into the rocket company, betting on its now-trillionaire CEO [beat] and the prospect of putting AI in space.</p><p>Friday's debut gave SpaceX a valuation of more than $2 trillion, putting it in elite company with the likes of Nvidia and Apple... and making it more valuable than Musk's Tesla.</p><p>The landmark listing also made Musk the first trillionaire ever. He loomed large over Times Square from the jumbo TV screen of the Nasdaq stock exchange... while a giant and unflattering inflatable depicting Musk was also on display with messages critical of SpaceX and Grok.</p><p>Musk's rocket company began trading ahead of forthcoming IPOs for AI heavyweights Anthropic and OpenAI which will further test market appetite for new entrants.</p><p>Anna Rathbun, founder and CEO of Grenadilla Advisory says the company is benefitting from its connection to AI rather than its fundamentals.</p><p>“So I think it's not so much about SpaceX, but just the excitement about AI and SpaceX as much the name has space in it, it's an AI company at the end of the day, right? So I think the excitement about AI is going to drive it. Whether or not it would be successful, we have to see.”</p><p>At $75 billion, the deal's proceeds were more than double those of Saudi Aramco's record-setting 2019 IPO.</p><p>Although SpaceX may have to wait for entry into the S&P 500, its expected fast-track inclusion in the Nasdaq 100 will soon make it a major holding for passive funds and ETFs that track the index, creating a fresh source of demand for its shares.</p><p>Retail investors on Friday snapped up shares of SpaceX despite SpaceX posting a loss of nearly $5 billion last year and generating only a fraction of the revenue brought in by similarly valued tech giants.</p><p>Still, several analysts have issued positive ratings on the stock. </p><p>But Morningstar analysts this month said it is more fairly valued at around $780 billion, and CFRA on Friday started coverage with a sell rating.</p></body>
Did SpaceX just boot Tesla from the Magnificent Seven? With its first trading-day valuation of $2.1 trillion, SpaceX is worth more than Tesla ($1.8 trillion based on its fully diluted share count) and Meta Platforms. The top six U.S. companies by market value are now Nvidia, Alphabet, Apple, Microsoft, Amazon.com, and SpaceX.
He’s now the world’s first trillionaire, after his rocket and AI company broke IPO records on its way to a $2.1tn valuation
Elon Musk said on Wednesday that he keeps engaging in cultural and political fights because he views them as part of a broader struggle for the survival of civilization, in response to a French user who questioned why the world's...
The SpaceX drama, however, is just beginning. SpaceX completed its record-setting IPO on Thursday, and it closed just under $161 on Friday, up 19% from the $135 IPO price, valuing Musk's rocket company at $2.1 trillion. Now investors have to brace for SpaceX to be included in the Nasdaq 100 inclusion, which should happen in two weeks.
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.
SpaceX closed 19% higher, giving it a market cap around $2.1 trillion. That makes it the sixth most valuable U.S. listed company. At that lofty market cap, SpaceX makes up roughly 3% of the entire $75.
The pressure is on the company—and newly minted trillionaire Elon Musk—to deliver.
As the world’s first trillionaire, Elon Musk is incredibly wealthy even by the standards of the incredibly wealthy. (He’s worth $1.2 trillion this afternoon at recent share prices for SpaceX and Tesla.
SpaceX shares rocketed after Elon Musk kicked off the biggest stock market listing in history, valuing the company at more than $2 trillion.
SpaceX shares rocketed after Elon Musk kicked off the biggest stock market listing in history, valuing the company at more than $2 trillion.
A SpaceX-Tesla merger seems inevitable.
Tesla (NASDAQ:TSLA) CEO Elon Musk made history earlier today by reportedly becoming the world’s first trillionaire, fueled largely by SpaceX‘s (NASDAQ:SPCX) blockbuster NASDAQ debut. Yet, Tesla stock is barely budging on the news, trading near $403 and up 1% in midday action on Friday. The disconnect is hard to ignore. Musk’s combined SpaceX and Tesla stakes ... Elon Musk May Be a Trillionaire, but Tesla Is Still Down 11% in 2026. Is TSLA Stock Dead Weight Now?
SpaceX began trading on NASDAQ this morning, and one of the company’s longtime venture capital backers offered a loud endorsement. On CNBC’s Squawk Pod, David George, a partner at venture capital giant Andreessen Horowitz (a16z), said Elon Musk’s space and AI businesses have largely solved their toughest technical challenges and are now focused on scaling. “When we ... Top Venture Capital Investor: Elon Musk Has ‘De-Risked All the Physics’ Behind Starlink and Colossus
CNBC Wealth Editor correspondent Robert Frank delivered a milestone moment on air this morning, saying: “By the end of today, Elon Musk will likely become the world’s first trillionaire.” This comes as the result of the long-awaited SpaceX IPO, which is poised to revalue Musk’s privately held stake at public-market multiples and push his net ... Wealth Expert: SpaceX IPO Will Likely Make Elon Musk the World’s First Trillionaire
Elon Musk Hits Stunning Trillionaire Milestone As SpaceX Soars