5 wild numbers for SpaceX for the company’s first week on the Nasdaq

Since SpaceX With a record-breaking IPO late last week, Elon Musk’s second billion-dollar company has been the talk of Wall Street. From Musk becoming the world’s first trillionaire to SpaceX moving forward with a $60 billion acquisition shortly after hitting the market, the first few days of trading have broken the norm every time.

There are too many eye-popping numbers to list, but here are a few that stand out:

Funds raised in IPO

SpaceX initially raised $75 billion in its offering, making it more than double the size of the largest IPO ever.

Oil producer Saudi Aramco raised $25.6 billion in 2019, that number rose to $29.4 billion when underwriters used the so-called greenshoe. And in China Alibaba it also reached $25 billion, including an overwriter.

SpaceX’s share of the green shoe brought in $10.7 billion in revenue. That amount alone is the largest of any technology IPO to date. Uberfor example, it raised $8.1 billion in 2019, and the chipmaker Cerebras raised $6.4 billion last month.

Facebook held the largest IPO of a US tech company before SpaceX, raising $18.4 billion, including a greenshoe option, in 2012.

SpaceX employees wore green shoes on the trading floor Friday to accept the underwriters’ option.

The world’s first trillionaire

SpaceX’s IPO turned Musk into the world’s first trillionaire. Musk owns about 46% of SpaceX, which is worth more than $1 trillion, and controls the voting of about 82% of the shares. Musk’s Tesla the stake is worth hundreds of billions of dollars more.

The following are the richest people in the world Google Co-founders Larry Page and Sergey Brin are each worth about $300 billion, according to Forbes. They were followed by several other technological innovators – Amazon Jeff Bezos, Michael Dell, Oracle’s Larry Ellison, Meta of Mark Zuckerberg and Nvidia’s Jensen Huang.

Musk’s luck isn’t going well for everyone. Progressive politicians, including Vermont Senator Bernie Sanders, Massachusetts Senator Elizabeth Warren and New York City Mayor Zohran Mamdani used the event to remind the public of the huge wealth inequality in the US and the common struggles Americans face with today’s inflation.

For some investors, the problem is SpaceX’s dominance. Anders Schelde, chief investment officer of Danish pension fund AkademikerPension, told CNBC that the fund was not buying SpaceX shares because “we can’t make the numbers work at the current valuation, and we believe its governance standards are too weak from the perspective of minority shareholders.”

Other groups have protested the SpaceX IPO, citing issues including Musk’s politics and inflammatory rhetoric, the company’s poor record with artificial intelligence safety, and environmental concerns related to rocket launches and large data centers.

Historical volume

SpaceX saw record-breaking trading volumes in its first few days as a public company.

On Friday, its first day on the market, SpaceX saw shares worth $85 billion. About $46 billion of shares were traded on Monday, followed by about $68 billion on Tuesday, totaling $66 billion in the first three days.

That’s more trading than happens in popular exchange-traded funds QQQ again CHECKestimated at $33 billion and $46 billion, respectively, during that period.

Meanwhile, Nvidia, the most valuable company in the world, saw an average of 27 billion dollars, more than double. an apple for 12 billion dollars.

As for other technology IPOs, Cerebras recorded an average dollar volume of more than six billion dollars in its first three days of trading. Facebook saw shares trade hands worth $23 billion on its opening day and an average of $11 billion over its first three days.

Introduce past Amazon

SpaceX shares soared out of the gate, quickly placing the company among the world’s most valuable assets.

Its market cap rose above Amazon’s on Tuesday, closing at $2.66 trillion that day. SpaceX even briefly overtook Microsoft, before slipping back under the software giant.

The basics tell a very different story.

Amazon made 38 times more revenue than SpaceX last year, generating nearly as much in weekly sales as Musk’s company pulled in for the year.

Amazon’s online ad business alone recorded nearly as much revenue in the fourth quarter as SpaceX did all of last year. Even Amazon’s subscription services business is more than twice the size of SpaceX in revenue.

In terms of actually making money, Amazon’s annual revenue of nearly $78 billion was more than four times SpaceX’s revenue. SpaceX loses billions of dollars a year.

M&A

Within days of its IPO, SpaceX entered into a formal agreement to acquire AI-coding Cursor for $60 billion in stock. The deal was first announced in April, but there was still a chance it wouldn’t happen.

The transaction is expected to close in the third quarter, and marks one of the largest technology acquisitions on record.

SpaceX previously merged with xAI, Musk’s AI company, in a deal that valued the combined entity at $1.25 trillion.

Aside from the SpaceX-xAI deal, there have been only three acquisitions over $60 billion involving a US tech company as a buyer, according to FactSet.

The biggest was Broadcom Company The purchase of VMware for $69 billion in 2023, followed by Microsoft’s purchase of Activision Blizzard for about the same amount in the same year. The third big one was Dell’s EMC’s purchases are about 67 billion in 2016.

Among other tech megacaps, big deals include Google’s $32 billion acquisition of Wiz in 2025, WhatsApp’s $19 billion acquisition of Facebook in 2014 and Amazon’s $13.7 billion acquisition of Whole Foods in 2017.

As for Tesla, Musk’s other public company, the biggest acquisition came in 2016, when the electric car maker spent $2.6 billion on SolarCity, a solar installer founded and run by Musk’s cousins ​​Peter and Lyndon Rive. Musk served as chairman and was the largest investor.

—CNBC’s Robert Hum contributed to this report.

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