SpaceX Sets $135 IPO Price, Targets $75B Raise

SpaceX has officially set its IPO share price at $135 per share, targeting a $75 billion raise and a valuation of around $1.75 –$1.77 trillion— making it the largest initial public offering in history. Trading is expected to begin on June b12, 2026 on Nasdaq under the ticker SPCX, with Elon Musk retaining over 85% voting control.

SpaceX IPO Overview

Key IPO Details

Parameter	Information
Share Price	$135 per share (fixed, no price range)
Total Shares Offered	≈ 555.6 million
Funds Raised	≈ $75 billion
Valuation	$1.75 – $1.77 trillion
Listing Date	June 12, 2026
Exchange & Ticker	Nasdaq – SPCX
Underwriters	Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, J.P. Morgan, Barclays
Retail Allocation	Up to 30% of shares, unusually high for a mega-IPO
Lock-up Period	366 days for Musk and insiders
Voting Control	Musk retains ≈ 85% voting power, 42% economic ownership

Strategic Context

• Record-breaking scale: The $75 billion raise surpasses Saudi Aramco’s $29.4 billion IPO (2019), making SpaceX the largest public listing ever.
• Business mix: SpaceX’s empire spans Falcon 9, Starlink, Starship, and xAI, positioning it across aerospace, satellite internet, and AI computing.
• Revenue snapshot: 2025 revenue ≈ $18.7 billion (+33% YoY); Q1 2026 ≈ $4.7 billion.
• Profitability: Still negative (2025 net loss ≈ $4.9 billion) due to heavy investment in rockets, satellites, and AI data centers.
• Market ambition: Prospectus cites a $28.5 trillion total addressable market, covering space travel, global internet, and AI infrastructure.

Investor Considerations

• Unusual pricing: SpaceX broke convention by fixing $135 before its roadshow — a “take-it-or-leave-it” approach leveraging Musk’s retail following.
• Valuation risk: At ≈ 94× trailing revenue, analysts warn of overvaluation vs. peers (Tesla ≈ 17×, Palantir ≈ 81×).
• Governance: Dual-class structure limits ordinary shareholder influence.
• Liquidity: Only ≈ 5% of shares will be publicly tradable initially.

Broader Impact

• Cements Musk’s control over the world’s largest space and AI enterprise.
• Triggers a wave of mega-listings (OpenAI and Anthropic expected next).
• Redefines public market valuations for deep-tech companies.