SpaceX IPO live updates: Elon Musk’s SpaceX opens at $150 per share in record debut as Dow, S&P 500, Nasdaq rise

SpaceX’s (SPCX) shares soared 19% on their first day of trading following the largest IPO ever.

On paper, founder Elon Musk became the world’s first trillionaire after the company raised $75 billion in an offering of more than 555 million shares. Some 20% of the shares were allocated to retail investors who have followed Musk’s vision of putting data centers in space and eventually colonizing Mars.

The Dow Jones Industrial Average (^DJI) gained 0.7%, while the S&P 500 (^GSPC) rose 0.5%.

The tech-heavy Nasdaq Composite (^IXIC) added 0.3% as some chip stocks rallied.

Meta (META) plans to limit employees’ use of tokens in AI , according to The Information.

The company is reportedly building a platform to track how many tokens employees use, including setting budgets and limits, to cap rising AI-related costs.

The Information said the memo was shared with thousands of employees.

AI tokens are small bits of text that AI models process and generate. They are often used to measure and bill AI usage.

Yahoo Finance’s Brian Sozzi reports:

Before you get sucked into the palpable hype today surrounding SpaceX’s (SPCX) long-awaited IPO, here are a few rocket-like shots of perspective.

First, as consultancy Rand Group pointed out, a public debut for a company, while a milestone, is really just a way for early investors and employees to gain some liquidity. It’s also a way for a company to raise money from new investors who weren’t early believers or didn’t get access to the company.

With that often comes a post-IPO life cycle: a hot start out of the gate, followed by more hype, and then weakness as early investors sell when the lockup period ends and financial results fail to live up to the initial hype. The stock will trade sideways for a bit as the company builds confidence among new investors through its financial performance. And then it’s back off to the races.

We have seen this time and time again, from the debuts of Facebook (now Meta (META)) to Robinhood (HOOD) to Coinbase (COIN).

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Chip stocks rallied on Friday as the broader market moved higher following SpaceX’s (SPCX) historic IPO.

AMD (AMD) gained 6%, while Intel (INTC) jumped 7%. Arm Holdings (ARM) also climbed more than 9%.

SpaceX, which already operates thousands of satellites in orbit, plans to deploy data centers in space. The ambitious initiative would significantly expand the infrastructure needed to support AI computing.

Earlier this year, Intel announced it had partnered with SpaceX on Elon Musk’s TeraFab initiative, a semiconductor manufacturing project that also includes Tesla and xAI.

The rally in semiconductor stocks was also fueled by growing expectations of a potential agreement between the US and Iran.

Bloomberg reports:

Robinhood Markets Inc. customers faced issues during the highly anticipated first minutes of SpaceX trading on Friday.

Roughly 5,000 outages were reported as of 11:58 a.m. in New York, according to the website Downdetector, but those issues appeared to recede by 12:30 p.m.

“Robinhood saw record-breaking traffic today,” a company spokesperson said in an emailed statement. “As a result, some customers experienced latency and intermittent issues. Essential systems have recovered and our teams are closely monitoring.”

Robinhood was one of the five trading platforms to offer the sought-after SpaceX shares to retail customers, alongside Charles Schwab Corp., Fidelity Investments, SoFi Technologies Inc. and Morgan Stanley’s E*Trade. Other platforms didn’t see significant issues during the same period, according to Downdetector.

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SpaceX’s (SPCX) stock extended gains more than an hour after the opening trade.

The stock jumped 27% to $172 after opening at $150.

SpaceX priced its shares at $135 each, raising $75 billion in the biggest IPO ever.

Tesla stock (TSLA) was subdued on Friday afternoon after SpaceX (SPCX), another Elon Musk company, went public.

The stock was down 0.2% at last check, but it hit session lows, down about 2%, immediately after SpaceX began trading.

SpaceX, which opened at $150 per share, is now trading at $166, 23% above its IPO price of $135 per share.

As my colleague, Ines Ferré noted, Tesla stock, along with the rest of the “Magnificent Seven” group of megacap stocks, has been weak in June, with more than $2 trillion in market cap wiped out as investors rotated out of tech and into more cyclical and defensive sectors.

Strategists have also cautioned that SpaceX could split the “Elon Musk trade,” which, before today, was concentrated in Tesla stock.

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SpaceX (SPCX) began trading Friday after the largest IPO ever, putting retail demand for the stock to its first public-market test. That test is arriving after signs retail traders may already have been making room for it.

Retail selling across single stocks just hit the heaviest level since November 2023, according to research from Vanda Research, with pressure concentrated in semiconductor names including Micron (MU) and Sandisk (SNDK).

At the same time, retail buying of space stocks has climbed further, reaching its highest level since December 2024, according to Vanda.

That does not mean investors are dumping chips to buy SpaceX. Broadcom (AVGO) and Marvell (MRVL) had been drawing retail buying earlier in the week, according to Vanda, making this less a broad semiconductor exit than a test of where retail attention goes next.

But Vanda’s latest note sharpened the funding question.

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Elon Musk is now the world’s first trillionaire after his stake in SpaceX amounted to nearly $870 billion at the company’s IPO price.

Pras Subramanian reports:

Musk holds approximately 42% of SpaceX’s equity through a dual-class share structure that grants him roughly 82% of voting control via Class B stock. With shares around $158 in midday trading, his equity stake is valued at $869.4 billion.

Musk holds approximately 717 million Tesla (TSLA) shares, not including vested stock options, according to the most recent regulatory filings — a position that, at the electric carmaker’s current price of roughly $388 per share, is worth approximately $278.2 billion.

Add the two together — $866.5 billion from SpaceX and roughly $286.8 billion from Tesla — and Musk’s stakes in those two companies alone total approximately $1.147 trillion, not including his stakes in Neuralink, the Boring Company, and other investments and assets he may have.

Read more here.

Yahoo Finance’s Pras Subramanian reports:

SpaceX’s (SPCX) stock opened at $150 Friday, a 11% jump on its first day of trade following a record-breaking IPO.

The rocket and satellite company priced its IPO Thursday night at $135 a share ahead of today’s debut on the Nasdaq (^IXIC), trading under the ticker SPCX.

“SpaceX going public is an important moment for the broader tech sector in our view as this AI Revolution and data takes this next step forward,” Wedbush analyst Dan Ives wrote in a note to investors Friday morning.

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Yahoo Finance’s David Hollerith reports that hundreds of IPO bankers, wealth managers, customer service agents, and other staff have been put on notice. Halls of Manhattan bank lobbies are decked with rocket videos. JPMorgan Chase (JPM), the country’s biggest bank, is planning to throw a party on Friday afternoon.

It’s all fanfare over SpaceX’s (SPCX) public debut on Friday. Here are three things to know:

1. The IPO has a big retail allocation, but some investors may get less than they expect: The average investor may have far less opportunity to jump in than it seems. Requesting IPO shares doesn’t guarantee investors will get any.

   On the other hand, SpaceX is breaking ground in how it’s reserving space for brokerages like Charles Schwab, E-Trade, Fidelity, Robinhood, and SoFi, which cater more to everyday investors.

2. Wall Street rations shares when demand surpasses supply: Demand for SpaceX shares is expected to exceed the supply available in the pre-IPO allocation, according to sources familiar with the deal. All else equal, that means many investors won’t get what they ask for, and that’s exactly the kind of tension bankers want.

3. Most investors won’t pay the IPO price: SpaceX’s IPO is set to price at $135. That’s only available to investors who get an allocation before the stock begins trading. Everyone else will wait until the stock trades on the public market, and unless things go poorly, the price will be higher.

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Consumer sentiment has been stronger than expected so far in June, according to survey results released Friday.

The University of Michigan’s key sentiment reading was 48.9 in preliminary survey results for June, widely exceeding expectations of 46.0 and climbing far above May’s 44.8 reading, the lowest on record.

Readings on current conditions and expectations also exceeded estimates. Current conditions results were 48.4, against estimates of 46.1, while the expectations reading was 49.3, against estimates of 44.9.

On the inflation front, survey respondents expect one-year inflation of 4.6% and 5-10 year inflation of 3.4%. Economists had expected respondents to look for one-year inflation of 4.9% and 5-10 year inflation of 3.8%.

However, while the gains are strong, views on the economy are still “relatively dour,” survey of consumers director Joanne Hsu said in the University of Michigan’s survey release. Sentiment is still 13% below January 2026 and 19% below a year ago.

“Consumers remain focused on kitchen table issues,” Hsu said. “They feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run.”

Oil prices pared losses on Friday after President Trump said that terms of a potential US-Iran deal leaked in Iranian media “have nothing to do with the terms that were agreed to.”

“The terms that Iran leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing. What they said, including their weak and pathetic statement on having a deal, bears no relation to the truth,” the president wrote on social media.

“Very dishonorable people to deal with. With them, there is no such thing as dealing in good faith. … They better get their act together, and FAST!,” Trump added.

Futures on international benchmark Brent crude (BZ=F) advanced to a loss of roughly 1.1% after losing as much as 5% overnight, while contracts on US WTI crude (CL=F) traded down by 1.3% near 10:15 a.m. ET.

Oil prices had plunged overnight on news that the US and Iran had largely agreed to the terms of a deal that would reopen the Strait of Hormuz, and that the deal could be signed as soon as this weekend, during the upcoming G7 summit in Geneva, Switzerland.

The text of the deal has not yet been made public. However, state-affiliated Iranian media have reported that terms include a withdrawal of US forces from the region, the release of $24 billion in frozen Iranian funds held abroad, the removal of US Treasury sanctions on sales of Iranian oil, and “reconstruction plans” for Iran worth around $300 billion.

President Trump has, in recent days, said an unfreezing of Iranian assets wouldn’t be acceptable to the US. Iranian media have also reported that the agreement doesn’t include a commitment from Iran to relinquish control of the Strait of Hormuz, which Trump has insisted must happen for any deal to take place.

Elon Musk said he finds SpaceX’s massive IPO today “hard to believe” given its humble beginnings.

“I gave SpaceX less than a 10% chance of succeeding at all,” Musk said on Friday morning. ”In fact, I told people this — ‘Look we’re probably going to fail, but we should give it a try because if there’s not a new company that enters space, we will never be a truly space-bearing civilization.’”

Elon Musk and SpaceX executives rang the opening bell ahead of the largest IPO in history.

Musk rang the bell remotely from Starbase, Texas, while SpaceX president Gwynne Shotwell and CFO Bret Johnsen were in New York to ring the bell at the Nasdaq Exchange.

Musk is poised to become the first trillionaire in history. Shotwell, Musk’s right-hand executive, was SpaceX’s seventh employee. She has helped execute on Musk’s vision for the company and now faces new challenges operating SpaceX with public market scrutiny.

Space-related stocks reversed course at the open on Friday, sinking as investors await SpaceX’s (SPCX) first trade.

Shares of Redwire Corporation (RDW) and Satellogic (SATL) declined more than 10%. AST SpaceMobile (ASTS) also declined, along with EchoStar (SATS), which dropped 9% and 12%, respectively. Rocket Lab (RKLB) also tanked 9%.

Procure Space ETF (UFO), which tracks companies across the space economy, fell below the flatline after jumping 8% in the prior session.

Virgin Galactic (SPCE) also tracked lower after jumping 23% a day earlier. Shares of the space travel company have been volatile amid short sellers piling into the stock.

The US stock market wobbled in the minutes after the opening bell on Friday as investors awaited SpaceX’s (SPCX) debut, with hopeful headlines out of the Middle East that the US and Iran could sign a deal as soon as next week.

The Dow Jones Industrial Average (^DJI) gained 0.5%, while the S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) hovered at the flat line.

All eyes on Friday are on SpaceX’s debut, set to be the biggest IPO in history. Shares are expected to begin trading within hours. An IPO price at $135 values the company at $1.77 trillion.

Crude oil fell Friday morning on news that the US and Iran could sign a deal as soon as last week, sparking hope the Strait of Hormuz could soon reopen. Brent (BZ=F) and US WTI crude (CL=F) traded down by 2.3% and 2.6%, respectively, after deeper losses overnight.

Tesla (TSLA) stock traded cautiously higher before the market open, picking up less than 1% in premarket trading on Friday as investors prepared for the IPO of SpaceX, set to be the largest initial offering in history.

Tesla and SpaceX are separate companies — despite both being run by Elon Musk — with different missions. SpaceX focuses on rocketry, telecom, and AI developments, while Musk has shifted Tesla’s focus from electric vehicles to robotics.

However, the two entities are closely linked. Tesla holds a $2 billion stake in SpaceX, meaning positive performance of SpaceX shares will boost the valuation of that equity.

Tesla has also integrated SpaceX’s Starlink connectivity into some deployments, including remote service and charging applications where terrestrial internet is limited, and engineering staff have rotated between the two companies over the years.

Adobe (ADBE) stock fell 8% after the software company announced that CFO Dan Durn would leave on June 15, 2026, to become the Marvell (MRVL) CFO.

The stock fell despite the company reporting strong revenue and earnings that beat Wall Street’s expectations. Adobe earned $5.96 a share in the first quarter on revenue of $6.62 billion, compared to estimates of $5.81 for EPS and $6.4 billion.

“Adobe delivered record revenue of $6.62 billion in Q2 reflecting strong AI-driven demand across our customer groups and we are raising our full-year fiscal 2026 revenue and non-GAAP EPS targets on the strength of that performance,” Adobe CEO Shantanu Narayen said. “We are inspired to bring the magic of our new AI products to consumers, business professionals, creators, and marketers to deliver on our mission to Empower Everyone to Create.”

Pre-IPO trading in derivatives linked to SpaceX (SPCX) indicates a gain of anything between 30% and 50% for Elon Musk’s rocket, satellite and AI company as retail investors flock to the much anticipated listing

Bloomberg reports:

Derivatives offered by online brokerage IG International pointed to a market value of $2.4 trillion Friday morning in Singapore, implying a gain of more than 35% from a price of $135 a share and valuation of $1.77 trillion in the initial public offering.

SpaceX-tied perpetual futures — contracts that don’t expire — on crypto venue Hyperliquid were trading around $180, implying a valuation of more than $2.3 trillion. Over $143 million of the instrument traded in the past 24 hours, and it currently has more than $208 million in open interest. In Germany, retail broker Lang & Schwarz quoted SpaceX with a Thursday closing price of $208, implying a 54% gain from the IPO price.

… Should the trading indications hold into the regular trading debut, the IPO would clear its first major hurdle as a public company, given the ambitious valuation, skeptical Wall Street voices on the business growth assumptions and the low initial free float.

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