SpaceX increased further in value on the New York stock exchange on Monday. The space, AI and satellite company of brand new billionaire Elon Musk increased in value by more than 19 percent on Friday during the largest IPO ever of a company.
Source: ANP, Belga
LOOK. SpaceX shot to the stars on the American stock exchange on Friday
The share rose another 11 percent during the second trading session (for now) on Monday, to $179.24.
Largest IPO ever
On Friday, SpaceX’s share price closed as much as 19 percent higher, after Elon Musk’s space and AI company achieved a spectacular IPO on Wall Street. SpaceX’s IPO was the largest ever.
Ultimately, 85.7 billion dollars (approximately 74 billion euros) was raised, the company announced on Monday. The higher amount – initially $75 billion was communicated – is related to the ‘over-allotment option’: the ability of the banks to offer more shares for sale.
2 trillion dollars
SpaceX’s market value is now over $2 trillion, or more than $2 trillion, and its IPO made Elon Musk the first-ever trillionaire. Before the IPO, Musk was already the richest person in the world with a fortune of $970 billion.
Immediately in the club of the greatest
SpaceX is now the sixth most valuable company in the US, after stock market giants Nvidia, Alphabet, Apple, Microsoft and Amazon, according to CNBC.
LOOK. Our financial expert Paul D’Hoore on Friday in VTM NEWS about the SpaceX IPO
Investors in the space company mainly invest money in the future predictions of Musk, who wants to place data centers in space with SpaceX and aspires to missions to Mars.
Overall mood positive
The overall mood on Wall Street was positive again on Monday, after Friday’s gains. The announced agreement between the United States and Iran provided relief to investors. Shortly after the market opened, the Dow Jones index was 1.2 percent higher at 51,828 points. The broad S&P 500 index rose 1.5 percent to 7,540 points and tech indicator Nasdaq climbed 2.3 percent to 26,471 points.
AI wins along
SpaceX’s share price rise also boosted investor confidence in the AI rally. SpaceX embraced AI earlier this year with the acquisition of Musk’s company xAI. AI chip company Nvidia rose 2 percent. Other chip companies such as Micron Technology and Intel gained 7.3 and 3.9 percent.