SpaceX opened trading Friday at $150 under the ticker SPCX after the biggest initial public offering ever.

Just after shares opened, SpaceX stock topped $160, pushing the company above a $2 trillion market cap.

Elon Musk and SpaceX President and COO Gwynne Shotwell rang the opening bell on Friday, with Musk in Texas and Shotwell at the Nasdaq in New York City.

The reusable rocket company said in a filing with the Securities and Exchange Commission late Thursday that it's raising $75 billion, selling 555.6 million shares for $135 a piece. The deal values SpaceX at $1.77 trillion, making it the seventh most-valuable U.S. company, ahead of Tesla, Musk's electric vehicle maker.

Musk said on a JPMorgan Chase livestream before the IPO that SpaceX had been cash-flow positive since around 2015. He said he wanted to take SpaceX public now to raise capital for "a significant growth phase," with plans to put over 100,000 satellites in orbit for communications, and to build artificial intelligence data centers in space, among other initiatives.

Musk, who's poised to be the world's first trillionaire based on his combined stakes in SpaceX and Tesla, started the company as a reusable rocket maker, but the only profitable part of the business today is the Starlink satellite internet division.

SpaceX acquired Musk's startup, xAI, in February 2026. That brought with it the company's data centers, Grok AI models and an embattled AI chatbot and image generator of the same name, as well as the social network X, formerly known as Twitter.

According to its prospectus, SpaceX has accumulated a total deficit of $41.3 billion since it was founded in 2002.