𝗦𝗽𝗮𝗰𝗲𝘅 𝗜𝗣𝗢 𝗠𝗮𝗿𝗸𝗲𝘁 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗥𝗲𝗮𝗰𝘁𝗶𝗼𝗻𝘀

𝗦𝗽𝗮𝗰𝗲𝘅 𝗜𝗣𝗢 𝗠𝗮𝗿𝗸𝗲𝘁 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗥𝗲𝗮𝗰𝘁𝗶𝗼𝗻𝘀

Uday Kotak commented on the SpaceX initial public offering. The banker stated the company valuation does not follow traditional business metrics. Kotak described the event as a test for capitalism.

SpaceX stock performance on Friday:

• Shares rose 19% after trading started.
• The stock opened at $150 per share.
• The price reached $168 during the day.
• The closing price was near $161.
• The company market value reached $2.1 trillion.
• SpaceX is now the sixth-largest listed company in the US.

Financial details of the IPO:

• SpaceX raised $75 billion.
• Initial share price was $135.
• The total raised exceeds the 2019 record set by Saudi Aramco.
• SpaceX lost $8.7 billion between early 2025 and March 31, 2026.

Elon Musk became the first trillionaire following the stock rise. His total net worth reached $1.1 trillion through SpaceX and Tesla holdings.

SpaceX business goals:

• Launch more satellites.
• Build data centres in space.
• Establish a human colony on Mars.
• Compete in artificial intelligence with Anthropic and OpenAI.

Analyst views:

• Morningstar estimates SpaceX value at $780 billion.
• Morningstar labels the IPO as overvalued.
• SpaceX filings note reliance on unproven technologies.
• The xAI business lacks a path to profitability.

Source: The Times of India