On Monday, shares of Elon Musk’s SpaceX surged by more than 19.6% on its second trading day (its first full trading day), closing at $192.5 and building on the gains from its market debut on Friday. Meanwhile, shares of Musk’s electric vehicle company, Tesla, also edged up slightly by 1.2%. SpaceX made its public debut on NASDAQ on June 12 under the ticker symbol SPCX, with an IPO price of $135 per share. The offering raised $75 billion and achieved a market capitalization of $1.77 trillion, setting a new global record for IPOs. Despite SpaceX’s current losses, the market has assigned a high valuation to the company, reflecting confidence in its long-term dominance in space-based AI computing infrastructure and the broader commercial space ecosystem. The buzz around SpaceX’s IPO also triggered a collective rally in China’s A-share commercial space sector, with stocks like Tongyi Aerospace soaring to their daily limits.