SpaceX Launches Record $75 Billion IPO to Fund AI Pivot
Space Exploration Technologies Corp. went public on June 12, raising $75 billion to transform into an integrated space and AI infrastructure powerhouse.
On June 12, 2026, Space Exploration Technologies Corp. executed the largest initial public offering in history, debuting on the Nasdaq under the ticker SPCX. The company raised $75 billion by selling 555.6 million shares at a fixed price of $135, achieving a market valuation of approximately $1.77 trillion. To mark the occasion, the company launched 29 Starlink satellites from Cape Canaveral on the morning of its first trading day.
The IPO follows a strategic pivot toward artificial intelligence, bolstered by a February 2026 merger with xAI. While the Starlink satellite service remains the primary profit driver—generating $11.4 billion in 2025 revenue—the company reported a net loss of $4.94 billion in 2025 due to heavy AI investments. SpaceX is positioning itself as an AI infrastructure provider, securing multi-billion dollar compute contracts with Alphabet and Anthropic and planning orbital data centers to leverage solar energy.
Investor demand was immense, with orders oversubscribing the offering by nearly four times. To broaden access, SpaceX reserved 30% of shares for retail investors. However, the listing faced criticism from Senator Elizabeth Warren, who urged the SEC to delay the IPO over concerns regarding corporate governance and speculative valuations. Despite these warnings, the stock initially surged to $211.39 before settling around $108. Elon Musk retains over 80% of voting control, and President Gwynne Shotwell has suggested a future merger with Tesla is possible to capture further AI synergies.
