New york: SpaceX shares surged in their Nasdaq debut Friday, lifting Elon Musk's rocket and satellite internet company above $2 trillion in market value and into the ranks of the world's largest publicly traded firms. Shares of Space Exploration Technologies Corp., trading under the ticker "SPCX," closed at $160.95, up 19.2% from their IPO price of $135.

According to Anadolu Agency, at closing, SpaceX was valued at about $2.11 trillion, up from roughly $1.77 trillion at its IPO price. The company priced 555.6 million Class A shares at $135 each, raising about $75 billion in gross proceeds. Based on recent market-cap rankings, the closing valuation placed SpaceX around sixth globally, behind Nvidia, Alphabet, Apple, Microsoft, and Amazon, and ahead of Taiwan Semiconductor Manufacturing Co., Broadcom, Saudi Aramco, Meta, and Tesla.

The stock opened at $150, already well above its offer price, as investors piled into one of the most anticipated listings in recent years. During trading, market value briefly exceeded $2.2 trillion, according to market data. The debut serves as a major test of investor appetite for high-growth space, satellite internet, and AI-linked companies. It also gives public-market investors direct exposure to one of Musk's flagship businesses alongside Tesla.

The IPO surpassed Saudi Aramco's 2019 listing, long regarded as the largest share sale on record. SpaceX's valuation now places it among the world's biggest technology and energy companies despite ongoing questions about capital requirements, profitability, and Musk's influence across multiple firms. Founded by Elon Musk in 2002, SpaceX has evolved from a launch provider into a broader aerospace and communications company built around Falcon rockets, Starlink satellite internet network, and long-term plans for missions to Mars.