SpaceX IPO Launches with Major Gains
SpaceX (NASDAQ: SPCX) opened its initial public offering at $168 per share on Friday, a 22% increase from its IPO price of $135, pushing its market capitalization to over $2.2 trillion. This marks the largest public offering to date, outperforming the combined market caps of major corporations such as Walmart and Berkshire Hathaway.
In response to the SpaceX launch, tech giants Amazon and Microsoft saw declines of $55 billion and $21 billion in market caps, respectively, as investors appeared to shift their holdings to SpaceX. Meanwhile, oil prices fell more than 2% amidst hopeful developments in U.S.-Iran peace talks, with the United States Oil Fund down 2.1% on Friday.
The significant debut of SpaceX is seen as a positive sign for upcoming IPOs in the AI sector, such as OpenAI and Anthropic, which are also expected to go public later this year.
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