SpaceX Launches Historic $75 Billion IPO on Nasdaq

On June 12, 2026, Space Exploration Technologies Corp. launched 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 Class A shares at a fixed price of $135, achieving a market valuation of approximately $1.77 trillion. The debut coincided with a Falcon 9 launch from Cape Canaveral that deployed 29 Starlink satellites into orbit.

Following a February 2026 merger with xAI, SpaceX has pivoted its business model to become an AI infrastructure provider. The company claims a total addressable market of $28.5 trillion, with $26.5 trillion tied to AI. This strategy includes developing orbital data centers to leverage solar energy and has already secured major contracts, including a $30 billion deal with Google to lease Nvidia GPU clusters.

Despite high investor demand that oversubscribed the offering by nearly four times, the company remains loss-making, reporting a $4.94 billion net loss in 2025. Starlink serves as the primary profitable arm, generating $11.39 billion in 2025 revenue. Critics, including Senator Elizabeth Warren and analysts from Morningstar, warned that the valuation was speculative and posed risks to retail investors.

Founder Elon Musk retains over 80% of voting control, positioning him to potentially become the first trillionaire. Additionally, SpaceX President Gwynne Shotwell indicated that a future merger with Tesla is possible to capture further synergies in the AI economy.