Key facts
- SpaceX's record $75 billion IPO was priced at $135 per share, valuing the company at $1.77 trillion.
- Elon Musk became the world's first trillionaire following the IPO.
- SpaceX shares debuted on Nasdaq under the ticker "SPCX".
- The stock opened at $150 per share and gained 11% on its debut, reaching a valuation of nearly $1.96 trillion.
- SpaceX reported $18.67 billion in revenue for 2025 but a net loss of $4.94 billion.
SpaceX shares surged 11% in their Nasdaq debut on Friday, opening at $150 per share and reaching a market valuation of nearly $1.96 trillion. The record-breaking $75 billion initial public offering, priced at $135 per share, has made Elon Musk the world's first trillionaire.
The listing, which saw shares trade under the ticker "SPCX", is considered the largest IPO in US history and one of the most valuable companies globally. The offering was closely watched as a test for the broader IPO market, with a strong debut potentially boosting sentiment for future public offerings.
SpaceX's business segments include commercial space launches, satellite broadband through Starlink, and artificial intelligence via xAI. The company claims a total addressable market of $28.5 trillion and has been responsible for over 80% of global mass launched into orbit in the past three years. Starlink has become a significant revenue driver, transforming the company's profile.
Demand for the IPO was strong from both institutional and retail investors. Analysts anticipate potential further boosts from inclusion in the Nasdaq-100 index, which has recently changed rules to allow mega-cap IPOs to join sooner. However, while SpaceX reported $18.67 billion in revenue for 2025, it also posted a net loss of $4.94 billion.
Analysts are divided on the stock's post-listing performance, with some cautioning about valuation risk despite the company's long-term growth potential in space infrastructure, communications, and AI. Antonio Gracias, a close friend and longtime investor, is noted as the second-largest recipient of funds from the IPO.