SpaceX began trading on the Nasdaq stock exchange Friday following a record-breaking initial public offering that raised approximately $75 billion, surpassing previous IPO records set more than six years ago.

The rocket and satellite company's public debut comes amid significant investor interest in the space industry and commercial spaceflight. The IPO valuation reflects SpaceX's position as a leading provider of satellite internet services and commercial rocket launches, including contracts with NASA and other government agencies.

The company has allocated an unusually high portion of shares for retail investors compared to typical IPOs, though financial experts note that individual investors typically receive limited allocations in high-demand offerings. The stock offering will provide SpaceX with substantial capital for expansion of its operations and technology development.

Elon Musk, SpaceX's founder and CEO, maintains significant control over the company despite the public offering. The IPO structure preserves Musk's decision-making authority through special voting arrangements, continuing the governance approach the company has maintained since its founding.

Some leveraged fund providers reportedly experienced challenges on the first day of trading, according to industry sources. The public offering represents a major milestone for the private space industry and could influence future investment in commercial space ventures.