Shares in Elon Musk’s SpaceX closed almost 20 percent higher on their trading debut Friday after the biggest IPO in history, making the polarizing entrepreneur the world’s first trillionaire as he vowed to take humanity to Mars.

The blockbuster initial public offering, which raised more than $75 billion, is expected to kick off a series of major IPOs by AI companies in the coming months.

The debut on the Nasdaq exchange in New York capped weeks of investor frenzy over the rocket company turned AI and satellite conglomerate.

The stock climbed as high as $176, or 31 percent above its offering price of $135, in its first session before ending the day at $161.50.

“SpaceX wants to be able to take you to the Moon, take you to Mars, and ultimately beyond,” Musk said at a launch event in Starbase, Texas, surrounded by staff, many of whom became multi-millionaires with the launch of trading.

“I’m confident at this point that with the incredible team that we have here at SpaceX, that we will do that for you,” Musk added.

About 100 people assembled outside the Nasdaq’s home in New York, where SpaceX also marked the occasion with a neon sign in Times Square.

Musk “sets very futuristic goals that no one else is doing, and I think that has got a lot of people excited,” said Sarin Sio, of financial company Dovetail, who had come to the Nasdaq headquarters.

The company priced more than 555 million shares at $135 each in a Thursday filing with the US markets regulator, valuing SpaceX at just under $1.8 trillion.

Friday’s gain lifted SpaceX’s market value to more than $2 trillion, placing it among the 10 most valuable American companies — ahead of Tesla, Facebook-owner Meta and........

© The Times of Israel