Firefly Aerospace secured a valuation of $9.84 billion after its shares surged 55.6% in their Nasdaq debut on Thursday, as investors continue to pour capital into companies aiding expansion of the U.S.

Firefly Aerospace soared in its public market debut Thursday, beginning trading at $70, over 55% higher than its IPO price. The Cedar Park-based company secured a $9.8 billion valuation.

After several big IPOs including Figma last week, the IPO market stayed hot with Firefly Aerospace, which is now approaching a $10 billion valuation out of the gate. I would categorize space as one of the hot sectors, along with artificial intelligence, crypto, and quantum computing, that investors can't seem to get enough of.