Key facts
- SpaceX's IPO raised $75 billion, pricing shares at $135 each.
- The company's stock opened at $150 on Nasdaq and surged 30% during midday trading.
- SpaceX reported over $37 billion in losses since its inception.
- Elon Musk holds approximately 85.1% of the company's voting power.
- Significant pre-IPO deals include compute sales to Anthropic and Google.
- SpaceX COO Gwynne Shotwell hinted at a potential merger between SpaceX and Tesla.
SpaceX has successfully completed its initial public offering, pricing 555.6 million shares at $135 each to raise $75 billion, marking the largest IPO in history. The company's stock debuted on the Nasdaq exchange at $150, an 11% increase, and continued to climb, reaching a 30% surge by midday trading before closing at $160.95, up 19%.
Trading volume was exceptionally high, with Robinhood reporting record-breaking traffic on its platform following the debut. SpaceX COO Gwynne Shotwell indicated in a CNBC interview that a merger between SpaceX and Tesla might be considered to simplify Elon Musk's workload. The IPO is expected to generate substantial fees for underwriters, with Goldman Sachs and Morgan Stanley being major beneficiaries.
Elon Musk, who holds approximately 85.1% of SpaceX's voting power, expressed his appreciation for the company's employees on X. The S-1 filing revealed that SpaceX has incurred over $37 billion in losses since its inception, including $4.9 billion on revenues of $18 billion in 2025. Despite the losses, the IPO is anticipated to make around 4,400 SpaceX employees millionaires.
Leading up to the IPO, SpaceX secured significant pre-IPO deals, including agreements for compute services. Anthropic will pay xAI $1.25 billion per month for compute, while Google will pay SpaceX $920 million per month for similar services. These deals aim to bolster SpaceX's balance sheet.