Key facts
- SpaceX priced its IPO at $135 per share, raising $75 billion.
- The company's valuation reached $1.77 trillion, making it the largest IPO in history.
- SpaceX's revenue streams include launch services, Starlink internet, and xAI compute rentals.
- SpaceX holds approximately $1.2 billion in Bitcoin.
- A tokenized version of the stock, SPCX, will be available on Solana.
SpaceX has priced its initial public offering at $135 per share, a move that values the company at $1.77 trillion and establishes it as the largest IPO in history, surpassing Saudi Aramco's $30 billion offering in 2019. The stock is scheduled to begin trading on the Nasdaq on Friday under the ticker SPCX.
The company operates three main businesses: its familiar launch services, which generated approximately $4 billion in 2025 revenue; Starlink, its global internet service that brought in $11.4 billion in revenue and serves over 10 million subscribers; and the xAI business, integrated via a February merger. The xAI segment has positioned SpaceX as a major compute landlord, leasing out its Colossus 1 supercomputer, equipped with 220,000 Nvidia GPUs, to companies like Anthropic for $1.25 billion per month and Google for $920 million per month, deals that annualize to roughly $26 billion in future compute rentals.
Collectively, SpaceX reported about $18.7 billion in revenue for 2025 but incurred a $4.9 billion net loss, largely due to xAI's significant spending, which offsets the profits from Starlink. The company also holds 18,712 Bitcoin, currently valued at just under $1.2 billion. In conjunction with the stock's public debut, Backpack Securities and Sunrise are launching a tokenized version of SPCX on Solana, which will be redeemable one-to-one for actual shares and available for round-the-clock trading.