SpaceX raised $75 billion in its initial public offering on June 11, 2026, marking the largest US market debut ever and valuing the rocket and satellite company at approximately $1.77 trillion. The company priced 555.6 million shares at $135 each, surpassing the previous record set by Saudi Aramco’s 2019 IPO.
The stock opened for trading on June 12, 2026, on the Nasdaq under the ticker SPCX at $150 per share and surged 19% by market close, closing at $161. This strong first-day performance reflected intense investor demand for the space exploration and AI-focused company, with the valuation briefly climbing above $2 trillion in subsequent trading days.
SpaceX’s approach to the IPO broke with Wall Street convention. Rather than conducting traditional investor roadshows to gauge demand and set a price range, the company set the $135 share price before roadshows, a move Reuters described as a “take-it-or-leave-it” strategy. The company sold approximately 4% of itself in the offering, according to NC State’s Poole College of Management.
The $1.77 trillion valuation placed SpaceX above Tesla, Elon Musk’s other publicly traded company, making it the seventh-largest U.S. public company by market capitalization. However, the valuation sparked debate among analysts. Morningstar analyst Nicolas Owens stated his fair value estimate for SpaceX was roughly $780 billion, less than half the IPO valuation. Aswath Damodaran, a valuation expert, estimated SpaceX’s worth at $1.25–$1.3 trillion, suggesting the IPO price reflected optimistic expectations about the company’s future growth.
SpaceX’s IPO came as part of a broader 2026 IPO boom. According to EY’s Global IPO Trends Q2 2026 report, U.S. IPO proceeds reached $128 billion through June 30, 2026, up 646% year over year. The SpaceX offering dominated that activity, accounting for more than half of the year’s total IPO capital raised.
Investors now face a near-term test. According to SpaceX’s IPO prospectus, up to 911.5 million shares held by insiders and early investors are set to become tradeable in early August 2026, valued at approximately $116–123 billion. This earnings-linked lockup release occurs two days after the company’s first earnings report. According to Investing.com, the stock must maintain a price above $175.50 for five of the previous ten trading days for the full lockup to expire. Former Nasdaq CEO Robert Greifeld warned in July 2026 that roughly $800 billion in SpaceX shares could become tradeable by October, marking what he called the largest lockup expiration in U.S. capital markets history.
Sources
- CNBC — confirmed SpaceX raised $75 billion at $135 per share, valuing the company at $1.77 trillion
- Reuters — reported the IPO price and “take-it-or-leave-it” pricing strategy
- Bloomberg — reported the stock opened at $150 and closed at $161 on June 12, 2026, a 19% gain
- Axios — confirmed the $75 billion raise and $1.77 trillion valuation
- Yahoo Finance — reported Morningstar analyst Nicolas Owens’ $780 billion fair value estimate
- Aswath Damodaran (Substack) — provided valuation estimate of $1.25–$1.3 trillion
- NC State Poole College of Management — reported SpaceX selling approximately 4% of the company
- EY Global IPO Trends Q2 2026 — reported U.S. IPO proceeds of $128 billion through June 30, up 646% year over year
- Yahoo Finance — reported SpaceX’s lock-up expiration details: 911.5 million shares worth $116 billion
- Investing.com — reported $123 billion in shares set to unlock in early August 2026 with price conditions
- Yahoo Finance — reported ex-Nasdaq CEO Robert Greifeld’s warning about $800 billion in shares becoming tradeable by October
