Here are 5 wild stats from SpaceX's first week on the Nasdaq
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- SpaceX raised $75 billion in its IPO plus a $10.7 billion greenshoe option, making it more than twice the size of any previous IPO — Saudi Aramco's $29.4 billion (2019) and Alibaba's $25 billion previously held the records.
- Elon Musk became the world's first trillionaire through his ~46% SpaceX stake and ~82% voting control, leapfrogging Google co-founders Larry Page and Sergey Brin, each worth close to $300 billion.
- SpaceX's first three trading days averaged $66 billion in share volume, outpacing QQQ ($33B) and SPY ($46B) and more than doubling Nvidia's $27 billion daily average and Apple's $12 billion.
- SpaceX's market cap climbed to $2.66 trillion on Tuesday, briefly surpassing Microsoft and overtaking Amazon — despite Amazon generating 38 times more revenue, earning $78 billion in net income (more than quadruple SpaceX's total revenue), while SpaceX is losing billions annually.
- SpaceX agreed to acquire AI-coding startup Cursor for $60 billion in stock, one of the largest tech acquisitions on record, closing in Q3; the company previously merged with xAI at a $1.25 trillion valuation.
- Progressive politicians including Senators Bernie Sanders and Elizabeth Warren and NYC Mayor Zohran Mamdani criticized the wealth concentration, while Danish pension fund AkademikerPension cited weak governance and unworkable valuation in declining to buy shares.
Why it matters: SpaceX now commands a $2.66 trillion valuation despite losing billions annually and doing a fraction of Amazon's revenue, meaning public markets are pricing Musk's space and AI ambitions far beyond current fundamentals. With Musk retaining 82% voting control, minority shareholders have limited say over how that capital gets deployed — starting with the $60 billion Cursor deal.
