Space Exploration Technologies Corp., known as SpaceX, today makes its highly anticipated debut on the Nasdaq Global Select Market under the ticker symbol SPCX, marking a pivotal moment in financial and space industry history. The company priced its initial public offering (IPO) on June 11, 2026, at $135.00 per share, completing the largest public offering of all time. This move values the aerospace and artificial intelligence giant at approximately $1.77 trillion, a figure that places it among the world's most valuable corporations.

SpaceX offered 555.6 million shares to the public, raising a substantial $75 billion in capital. The offering departed from traditional IPO procedures; SpaceX bypassed the standard price range announcement, instead setting a fixed price of $135 per share from the outset. Reuters and Bloomberg first reported this fixed price on June 3, 2026, with the roadshow launching on June 4, and bookbuilding concluding between June 8 and 10. Goldman Sachs & Co. LLC leads a syndicate of 21 underwriters for the offering. Reports indicate investor demand for the shares exceeded $250 billion, roughly 3.5 to 4 times the amount SpaceX sought to raise. Notably, the company allocated up to 30% of the float for retail investors, a significantly higher percentage than typical mega-cap IPOs.

The public listing carries immense implications for the financial landscape and for Elon Musk, SpaceX's founder and CEO. The IPO brings Musk closer to becoming the world's first trillionaire, as his 42% equity stake and 85% voting shares hold significant value. More than 4,400 current and former SpaceX employees could also become millionaires, with some securing $100 million or more.

However, the valuation draws scrutiny. Morningstar analysts, for instance, value SpaceX at $63 per share, representing a 53% discount to the IPO price. They cite the company's lack of profitability and the ambitious assumptions necessary to justify such a high valuation. SpaceX reported a net loss of $4.9 billion in 2025 and another $4.3 billion in the first quarter of 2026, and its prospectus indicates it does not expect to achieve profitability soon. Starlink, the satellite internet service, stands as the only profitable segment, generating $11.4 billion of SpaceX's $18.7 billion total revenue in 2025.

SpaceX's journey began in March 2002, with Elon Musk investing $100 million of his own capital. Over two decades, the company raised $11.9 billion across more than 30 funding rounds, evolving from a nascent rocket manufacturer into a multi-faceted enterprise. Early government contracts, notably a $1.6 billion agreement with NASA in 2008, proved crucial in its survival and growth. By February 2026, SpaceX acquired xAI, integrating the artificial intelligence startup and its chatbot Grok, along with the social media platform X, into its expansive portfolio. This diversification transforms SpaceX into a conglomerate encompassing space launch services, satellite internet via Starlink, and advanced AI development.

The IPO capital will fuel SpaceX's ambitious expansion initiatives. The company plans to continue heavy investment in its Starship development program, Starlink constellation expansion, and its long-term vision of making humanity a multi-planetary species, including establishing colonies on Mars and building orbital data centers. The public offering also brings increased scrutiny from Wall Street analysts and investors, despite Musk retaining significant control through his super-voting shares. The success of this historic IPO will serve as a bellwether for the burgeoning AI and space technology sectors, potentially paving the way for other major public offerings in the coming year.