SpaceX closes up nearly 20% in market debut, but faces an Asia problem
Technology
Limited penetration of Starlink and AI in the region raises questions over lofty valuation
In addition to making two of its flagship products work, SpaceX’s future growth also hinges on Asia, a market it has only started to tap. © Reuters
YIFAN YU
June 12, 2026 13:47 JST
Updated on June 13, 2026 05:29 JST
PALO ALTO, California — Shares in Elon Musk’s SpaceX closed up 19.2% in their first day of trading on Friday on Nasdaq, following a blockbuster IPO that priced its stock at $135 apiece and gave the company a roughly $1.75 trillion valuation. It has also fueled Musk to become the first trillionaire in the world.
