SpaceX\u2019s share price continued to rise 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\u2019s Musk\u2019s rocket maker and artificial intelligence company rose about 6 percent in early trading on Monday. In a frenzied few hours of trading on Friday, the day of the company\u2019s market debut, SpaceX rose nearly 20 percent.<\/p>\n
The gain 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.<\/p>\n SpaceX\u2019s initial public offering<\/a> raised $75 billion at a valuation of $1.77 trillion, the largest I.P.O. on record. It has come to be seen as 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 over $2.2 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