On Friday, SpaceX (SPCX) stock closed at $160.95 per share, rising more than 19% from its IPO price of $135 and valuing the company at $2.1 trillion, according to Yahoo Finance data.
That makes Musk’s rocket, satellite, and AI company his most valuable, even more than Tesla (TSLA), which also rose Friday and has a market capitalization of $1.52 trillion.
SpaceX also became the world’s seventh-largest public company by market cap on Friday and the sixth-largest US public company. Only Nvidia (NVDA), Alphabet (GOOG, GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), and Taiwan Semiconductor (TSM) are larger.
Notably, the distinction between Tesla and SpaceX may eventually become a thing of the past. A merger between the two companies is reportedly being openly discussed.
“In our view, there is a growing chance that Tesla will eventually be merged in some form into SpaceX/xAI over time,” Wedbush analyst Dan Ives wrote in a note to clients earlier this year. “The view is this growing AI ecosystem will focus on Space and Earth together … and Musk will look to combine forces/technologies over time.”