Powerlaw Corp's stock surged 17.59% in pre-market trading on Thursday, as the closed-end fund began its Nasdaq listing amid a broader rally in space-related investments.

The fund, which has invested in high-profile companies like SpaceX and OpenAI, started trading on the Nasdaq exchange on Wednesday. This debut comes during a period of significant growth in the space sector, driven by increased investor interest following SpaceX's official filing to go public last week.

Space stocks have been rallying as the sector benefits from heightened attention, with market capitalizations of space-related companies growing substantially this year according to industry analysis. Powerlaw's positioning as an investment vehicle with exposure to leading space and AI companies appears to be attracting investor interest during this market trend.