SpaceX\u2019s share price continued to surge on Monday, the company\u2019s first full day of trading, adding to its sharp move higher on Friday after its record-breaking public listing.<\/p>\n
Elon Musk\u2019s rocket maker and artificial intelligence company rose 19.6 percent on Monday, surpassing its rise in a frenzied few hours of trading on Friday, when SpaceX rose 19.2 percent in its market debut.<\/p>\n
The company announced on Monday that it ultimately had raised $85.7 billion<\/a> in its initial public offering, after bankers exercised an option to buy more shares from the company at the I.P.O. price. That was significantly more than the $74.4 billion the company initially raised last week, which had already set the record for the largest I.P.O. ever<\/a>.<\/p>\n SpaceX\u2019s public market debut crowned Mr. Musk, 54, as the world\u2019s first trillionaire<\/a> and quelled jitters on Wall Street about whether investors would accept the company\u2019s lofty valuation. The I.P.O. has come to be seen as a bellwether for other giant technology companies, namely Anthropic and OpenAI, seeking to go public this year.<\/p>\n After its latest gains, SpaceX was worth roughly $2.5 trillion in market value. Anthropic and OpenAI, which have developed foundational A.I. models and chatbots, are each expected to go public with valuations approaching $1 trillion.<\/p>\n SpaceX\u2019s giant I.P.O. topped the previous record set by Saudi Aramco<\/a>, Saudi Arabia\u2019s state-owned oil company, that raised more than $29 billion when it went public in 2019.<\/p>\n Mr. Musk and SpaceX redefined the space industry with partly reusable rockets and a satellite internet service, Starlink. In February, SpaceX bought Mr. Musk\u2019s A.I. company<\/a>, xAI, which also owned the social media platform, X, in a sweeping move to consolidate his business empire. By merging the companies, Mr. Musk provided a financial lifeline to xAI, which has spent billions of dollars trying to catch up with its rivals.<\/p>\n SpaceX, which has contracts with NASA and other federal agencies, had long been something of a financial mystery and functioned, at times, as a kind of piggy bank for Mr. Musk since 2002<\/a>, when the company was founded.<\/p>\n But last month, the company revealed a full picture of its finances<\/a> for the first time in preparation of the market debut. It reported that it had lost more than $4.9 billion last year, compared with a $791 million profit in 2024, because of increased expenditures on A.I. Revenue was $18.7 billion last year, up 33 percent from the previous year.<\/p>\n On Sunday, Mr. Musk said<\/a> a series of social media posts that he believed that the rocket company could reach $1 trillion in revenue by 2030, far outstripping the already optimistic predictions by some of the company\u2019s bankers. The trillionaire, who has a history of missing targets<\/a> he sets for his companies, offered no explanation for his projections.<\/p>\n \u201cAnd I would be surprised if revenue is not greater than $1T in 2031,\u201d Mr. Musk wrote on X, the social platform owned by SpaceX.<\/p>\n