Elon Musk’s SpaceX Rallies 20% in Blockbuster Nasdaq debut

Elon Musk’s SpaceX (NASDAQ: SPCX), made a strong Wall Street debut on Friday, with its shares rising as much as 20% in early trading after the company priced its initial public offering at $135 per share.

The stock opened at $150 on Nasdaq under the ticker SPCX and later traded near $162, giving public-market investors their first direct exposure to one of the world’s most valuable private companies. The move pushed SpaceX’s market value above the level set by its IPO price, which already valued the company at around $1.77 trillion.

SpaceX Opens Strong After Record $75B IPO

SpaceX sold 555.6 million shares at $135 each, raising $75 billion through the IPO. The company’s roadshow materials listed the offering size at 555.6 million shares, with proceeds planned for AI compute infrastructure, launch infrastructure, launch vehicles, satellite expansion, and general corporate purposes.

SpaceX IPO Key Numbers

Metric	Details
IPO Price	$135 per share
Opening Price	$150
Early Trading Level	Above $160
Shares Sold	555.6 million
Capital Raised	$75 billion
IPO Valuation	Around $1.77 trillion
Ticker	SPCX
Exchange	Nasdaq, Nasdaq Texas

The listing marks one of the most closely watched market debuts in recent years because SpaceX is no longer only a rocket company. Its public filings and roadshow materials position the business across space launch, Starlink connectivity, and AI infrastructure.

Why Crypto Investors Are Watching SpaceX

According to the company’s filing, SpaceX held 18,712 BTC as of March 31, 2026, with a cost basis of $661 million and a fair value of $1.293 billion at that date. At Bitcoin’s recent price near $63,500, the same holding is worth just under $1.2 billion.

That does not make SpaceX a Bitcoin proxy. Its BTC position is small compared with a trillion-dollar-plus market valuation. Still, the listing gives public investors exposure to another major company with disclosed Bitcoin holdings, alongside its core space, satellite internet, and AI infrastructure businesses.

Bitcoin itself stayed mostly flat around the debut, trading near $63,300 to $63,800 on Friday. That suggests traders treated the SpaceX IPO mainly as a mega-cap technology and AI event, rather than a direct crypto-market catalyst.

Starlink and AI Drive SpaceX Valuation Story

SpaceX generated $18.674 billion in total revenue in 2025, up from $14.015 billion in 2024. Connectivity was the largest contributor, with $11.387 billion in 2025 revenue, while the Space segment generated $4.086 billion and the AI segment generated $3.201 billion.

This revenue mix explains why investors are valuing SpaceX beyond launch services. Starlink has become the company’s main growth engine, while AI infrastructure has become a major part of its capital-spending narrative.

The company’s prospectus also shows that SpaceX does not plan to pay dividends in the foreseeable future, meaning investor returns will depend mainly on future share-price appreciation.

What Comes Next for SPCX

The next test for SPCX will be whether the stock can hold its early gains after the IPO volatility fades. Mega-IPOs often see heavy first-day demand, but long-term performance depends on revenue growth, margins, debt, and execution.

For crypto investors, the key point is clearer: SpaceX is now a public company with a disclosed Bitcoin position. Its BTC holdings may not drive the stock, but they add another bridge between public equities, AI infrastructure, and corporate Bitcoin treasuries.

Also Read: SpaceX IPO: Kraken, Bybit, Coinbase, & Binance Lead the Crypto Rush