SpaceX jumped 11% as the rocket makers stock opened for trading. That price gives the company a market value of $1.96 trillion and is enough to make CEO Elon Musk the first-ever trillionaire.Institutional and retail investors ju mped at the opportunity to buy 555.6 million shares of SpaceX at the offering price of $135 apiece, making it the biggest IPO in history with proceeds of $75 billion.Musk said the company was going public because it needed money to fund its ambitions of putting satellites and data centers in space and eventually establishing a colony of people on Mars.RELATED STORY | SpaceX reveals plans for what could be the biggest-ever initial public offeringIn addition to establishing a one-million-person Martian colony, the company has promised to save humanity by establishing other outposts in space, launch data centers the size of football fields into orbit and outdo rivals Anthropic and OpenAI in the race to make money from artificial intelligence.To reach its goals, SpaceX needs billions more than it currently takes in from its rocket and satellite business. Between the start of 2025 and March 31, 2026, the company lost $8.7 billion.Big institutional buyers and smaller-pocketed investors alike have indicated they are willing to take a chance, paying a high enough price for the 555.6 millions on offer to raise $75 billion. That easily tops the current title holder, Saudi Aramco, the oil giant that raised $26 billion in its 2019 initial offering.RELATED STORY | Jury sides with OpenAI in court battle with Elon MuskWall Street bankers that helped take SpaceX public are enthusiastic about the company and the big fees they will earn but not everyone thinks the stock price is justified.Analysts at research firm Morningstar, which doesn't earn any investment banking fees, wrote that the IPO is significantly overvalued" because of SpaceX's unproven technology and massive capital needs.They estimate the company is only worth $780 billion less than half its IPO value.SpaceX is the first of three megacap companies expected to go public this year, with Anthropic and OpenAI to follow. Nasdaq even revised its rules to allow SpaceX to gain entry into funds tied to its indexes in 15 days, which means investors will end up buying the rocket maker's shares much earlier. ...read more read less