SpaceX Debuts on Wall Street With 15% Jump

SpaceX, the company led by Elon Musk, began trading on Wall Street with a 15% gain in what the Hebrew source describes as a historic day. The IPO marked a major milestone for the privately held rocket and space company, which has now joined the public markets.

The capital raised in the offering is expected to fund development of rockets for Starship, which is still in the test-flight phase and has not yet become reusable in practice. SpaceX also plans to use the money to advance AI products and infrastructure, including a semiconductor plant the company intends to build in Texas together with Tesla and Intel.

Chief Operating Officer Gwynne Shotwell told CNBC that she had not even been sure the company would ultimately go public. She said, “Today, the building blocks of a public company are well established across the company’s different businesses.”

Shotwell added that SpaceX does not intend to focus on quarterly results. “We are not going to work against our investors,” she said, “but the people who invested in us need to know that what we are doing is very futuristic.”