Elon Musk’s SpaceX becomes the most valuable private company post-IPO, eclipsing Tesla’s market cap amid broader tech sector gains.
SpaceX’s valuation exceeded Tesla’s following its historic initial public offering, which raised over $100 billion and made Elon Musk the world’s first trillionaire. The IPO, the largest in history, underscored strong investor appetite for high-growth tech firms amid easing geopolitical tensions.
Tech stocks rallied Monday after the U.S. and Iran agreed to a ceasefire, reducing market uncertainty. SpaceX’s debut sets the stage for upcoming IPOs from AI leaders OpenAI and Anthropic, both of which have filed confidentially for public listings.
Markets reacted positively to the news, with tech indices gaining ground as investors anticipate further sector momentum in the holiday-shortened week.