Mucahithan Avcioglu
12 June 2026•Update: 12 June 2026
Shares of SpaceX rose sharply in their Nasdaq debut Friday after Elon Musk’s rocket and satellite internet company completed a record $75 billion initial public offering.
SpaceX shares opened at $150, climbing 11.1% from the IPO price of $135. The company is trading on Nasdaq under the ticker symbol “SPCX.”
As of 11.55 am EDT (1555GMT), SpaceX shares were at around $168.
The IPO valued SpaceX at about $1.77 trillion, placing the company among the world’s largest publicly traded firms by market capitalization. The offering consisted of about 555.6 million Class A shares priced at $135 each.
At the opening price of $150, SpaceX’s market value stood at approximately $2.1 trillion, compared with around $1.77 trillion at the IPO price.
The offering surpassed Saudi oil giant Aramco’s $29.4 billion IPO in 2019, making it the largest public listing in history.
Investor demand for the offering was strong, with orders reportedly reaching around four times the number of shares available.
The high demand reflected investor appetite for SpaceX’s reusable rocket technology, Starlink satellite internet network, government and commercial space transportation operations, and expansion plans in artificial intelligence infrastructure.
IPO makes Musk world’s first trillionaire on paper
Following the IPO, calculations showed that the value of Musk’s stake in SpaceX reached about $950 billion.
When his Tesla shares and other assets are also taken into account, Musk’s total wealth was estimated to have exceeded $1.2 trillion.
That made Musk the world’s first trillionaire on paper, although his fortune remains highly sensitive to changes in the market value of SpaceX, Tesla and his other companies.
SpaceX filed with the US Securities and Exchange Commission (SEC) on May 20 to launch the IPO process.
According to filings submitted to the SEC, Musk will retain about 82.4% of the company’s voting power after the completion of the offering.
That voting control is expected to leave Musk in a decisive position on major corporate decisions requiring shareholder approval.
SpaceX to continue expansion in space, satellite internet, AI
SpaceX plans to use the proceeds from the IPO to fund its growth strategy, including space transportation, satellite internet services, artificial intelligence infrastructure and data center investments.
Founded by Musk in 2002, SpaceX has become one of the world’s most important aerospace companies, with a business model built around reusable rockets, spacecraft transportation, satellite broadband and long-term plans for human settlement beyond Earth.
The company’s Falcon 9 rockets are used to carry satellites, cargo and crew into orbit, while its Dragon spacecraft plays a key role in NASA’s commercial crew and cargo missions to the International Space Station.
Starlink, one of SpaceX’s main growth businesses, operates a low-Earth-orbit satellite network designed to provide broadband internet services. The service has expanded beyond residential users into business, maritime, aviation and government markets, making it a major source of future revenue expectations for the company.
SpaceX also moved beyond traditional space technology in 2025 after merging with Musk’s artificial intelligence startup xAI.
The merger positioned the company to combine satellite communications, data infrastructure and AI applications, strengthening investor expectations for SpaceX’s role in next-generation digital infrastructure.
According to SEC filings, SpaceX reported a loss of $4.9 billion in 2025 and a loss of $4.28 billion in the first quarter of 2026.
Despite those losses, investors have focused on the company’s long-term growth potential, including Starlink’s expanding user base, government contracts, the commercial launch market and the future of the Starship program.
