SpaceX shares surge after world's biggest IPO

SpaceX made its market debut on the Nasdaq on Friday, ending the day at almost $161 a share and with a valuation of $2.1 trillion.

It has become the sixth-largest US company and makes CEO Elon Musk, who retains 82% of SpaceX's voting power, the world's first trillionaire
Trading surpassed 510 million shares, or about $84 billion in volume
SpaceX allocated 20% of shares for retail buyers.

Analysts said investors should brace for volatility, particularly early on, due to its expensive valuation after it lost nearly $5 billion last year.

Market participants are watching for signals on investor appetite ahead of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

Investors jumped at the chance to get a piece of Elon Musk's sprawling empire, SpaceX, after a record-setting IPO.

-Reuters