The stock rose as much as 7.7% before the opening bell, indicating an opening price of around $173 per share. The move comes after SpaceX surged 19% on its first day of trading on Friday following its record-breaking $75 billion initial public offering.
The rally pushed the company’s market capitalisation above $2 trillion, placing it among the most valuable publicly traded companies in the world.
Monday marks the first full trading session for the company after a shortened debut session on Friday, when shares only traded for a few hours after listing on Nasdaq.
Investor optimism has also been fuelled by SpaceX’s growing involvement in artificial intelligence. Earlier this year, the company acquired Elon Musk’s artificial intelligence venture xAI, bringing together AI models, data centres and social media platform X under the broader SpaceX umbrella. The deal has strengthened perceptions that SpaceX could emerge as a major player in the rapidly expanding AI ecosystem.
The strong market reception is also being viewed as a positive signal for other high-profile technology companies that are considering public listings.
According to Wedbush Securities analyst Dan Ives, as quoted by Bloomberg, the successful debut could bolster the IPO prospects of firms such as OpenAI and Anthropic, both of which are widely expected to explore public listings in the future.
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Despite the optimism, questions remain over whether SpaceX’s valuation is justified. The company has yet to report a profit, and some investors argue that expectations surrounding its future growth may already be reflected in the share price, the Bloomberg report added.
