SpaceX surges past $2 trillion in Nasdaq debut, closes in on Amazon

Article excerpt

SpaceX's Nasdaq debut sent the rocket company soaring past a $2 trillion valuation, approaching Amazon's market cap in a record-breaking initial public offering. Elon Musk's space venture, which has launched thousands of Starlink satellites and secured major government contracts, captured investor enthusiasm with the largest IPO in history. The stock's surge reflects confidence in SpaceX's ability to monetize its satellite internet network and expand its defense and space exploration business. The valuation places SpaceX among the world's most valuable companies within hours of going public, a dramatic ascent from its private valuation. Investors appear willing to bet on Musk's vision of making humanity multiplanetary while building a profitable communications empire.