SpaceX began trading on the Nasdaq Stock Market on June 12, 2026, under the ticker SPCX, after raising $75 billion in the largest initial public offering in history — more than double the previous record — at a price that values the company at $1.8 trillion and puts founder Elon Musk on the cusp of becoming the world’s first trillionaire.
SpaceX has made history with the biggest-ever IPO, sending it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world’s first trillionaire. The company raised $75 billion in the IPO, pricing 555.6 million shares at $135 each. SpaceX’s IPO is more than double the size of Saudi Aramco’s $29.4 billion listing in 2019.
Space Exploration Technologies Corp. began trading on the Nasdaq Stock Market under the ticker symbol SPCX on June 12. The offering priced on June 11 at a fixed price of $135.00 per share. The company sold approximately 555.6 million shares, raising about $75 billion before underwriting discounts and expenses and valuing the company at approximately $1.77 trillion at the offering price.
According to Yahoo Finance, the stock traded at $152.66 at 12:36 PM ET on June 12, well above the $135 price where the stock started the day trading. SpaceX’s $1.8 trillion debut valuation now clears Tesla, which carries a $1.49 trillion market cap.
The SpaceX IPO is the financial event of the year — and possibly of the decade. No company has ever raised this much in a public market debut. The scale is difficult to contextualise without comparison: SpaceX’s $75 billion haul exceeds the combined $36 billion raised by 71 other IPOs so far in 2026.
What SpaceX Is — and What It Has Become
SpaceX was founded by Elon Musk in 2002 with the explicit goal of reducing the cost of access to space and ultimately enabling human settlement of Mars. In the years since, it became the dominant force in commercial launch, developed the reusable rocket technology that transformed the economics of space access, and built Starlink — a satellite internet constellation that now provides broadband connectivity to millions of customers around the world, including in conflict zones.
Elon Musk’s rocket company, recently merged with xAI, raised $75 billion in its initial public stock offering. It’s the first of a trio of mega-IPOs from AI companies expected this year.
The xAI merger — completed in February 2026 — transformed SpaceX’s business profile. xAI, Musk’s artificial intelligence company, brought its AI infrastructure business into the combined entity. Google agreed to pay SpaceX $920 million per month for compute capacity at xAI data centers, under a 32-month deal running from October 2026 through June 2029, covering access to roughly 110,000 Nvidia GPUs. That followed a May agreement in which Anthropic pays $1.25 billion a month to rent the entire output of the Colossus 1 data center until May 2029, putting combined annualized compute revenue at around $26 billion.
Twenty-six billion dollars per year in contracted AI compute revenue from two of the most credible technology companies in the world is the number that drove SpaceX’s valuation to stratospheric levels. Investors are not primarily buying a rocket company. They are buying a rocket company with a profitable satellite internet service, a massive AI data centre business, contracts with Google and Anthropic, and — in Musk’s telling — a future in which those AI centres are built in orbit rather than on Earth.
The Business Reality: Losses and Contracted Revenue
SpaceX continues to incur losses. It owns the Starlink satellite internet service, which generates the majority of its revenue and is its sole profitable segment. According to the filing, SpaceX had an accumulated deficit of $41.3 billion as of March 31 and reported a net loss of $4.27 billion in the first quarter of 2026, compared with $528 million in the same period a year earlier.
The acceleration of losses — from $528 million in Q1 2025 to $4.27 billion in Q1 2026 — reflects the enormous investment in xAI infrastructure and data centre development that the company has been making since the merger. Building and filling warehouses full of Nvidia GPUs costs money before those GPUs generate revenue.
Skeptics note that both contracts include 90-day termination clauses after December 2026, and that Google itself has described the arrangement as bridge capacity rather than a permanent commitment.
The termination clauses are the single most significant risk disclosure in SpaceX’s prospectus. Google and Anthropic are paying extraordinary sums for computing capacity they need urgently — but both have reserved the right to walk away after six months. If the AI computing market develops new capacity from competing providers, or if the economy deteriorates in ways that reduce AI investment, those contracts could be terminated on 90 days notice.
SpaceX said in its prospectus that revenue increased 15% to $4.69 billion in the first quarter from $4.07 billion a year earlier. For all of last year, revenue jumped 33% to $18.67 billion.
Betting on SpaceX at this price is largely a wager on Musk, as the company is burning cash and is far smaller by revenue than any of its trillion-dollar peers.
What the IPO Means for the Space Industry
SpaceX’s IPO — the largest in history — has out-of-this-world implications for AI, space commerce and extraterrestrial exploration. The company has just debuted on the stock market in the biggest initial public offering in history, with the company raising some $75 billion and being valued at an almost ludicrous $1.77 trillion.
The implications for the space industry are specific and significant. SpaceX’s public listing will make its financial position — and the returns it generates for investors — transparent in ways they have never been before. Competitors that have struggled to attract private capital at SpaceX’s scale — Blue Origin, Rocket Lab, and others — will now be measured against a publicly traded SpaceX with a clear market capitalisation.
The IPO will also provide SpaceX with $75 billion of fresh capital to deploy. Musk has described using the proceeds to accelerate Starlink’s satellite deployment, develop the AI data centre infrastructure, and continue the Starship development programme that will be necessary for any eventual Mars missions.
The Nasdaq Context: A Wobbling Tech Market
The SpaceX listing comes at a time when stocks, led by tech companies, have been wobbling after huge run-ups amid mounting concerns about the return on investment for AI. On Thursday, the Nasdaq clawed back some ground after shedding more than 7% since hitting an all-time high on June 1. The SpaceX IPO — along with those of Anthropic and OpenAI — could also lead investors to shift large chunks of money away from other listed companies and into these new ones.
The timing of the IPO — into a technology stock market that has shed more than 7% from its peak — is either bold or poorly timed, depending on how the subsequent trading develops. The fact that shares traded at $152.66 by midday on June 12 — 13% above the $135 IPO price — suggests that institutional and retail demand was sufficient to absorb the offering at a premium.
Whether those gains hold as investors assess the financial statements more carefully, and as the AI contract risk disclosures are fully processed, will determine whether the IPO is remembered as a triumph or as the peak of a market cycle.
LoudFact.com is an independent global news and explainer platform. This report is based on reporting from NPR, Bloomberg, CNBC, Fox Business, Scientific American, IndexBox, and IPO Scoop as of June 11-12, 2026.
