SpaceX’s initial public offering is set for tomorrow at $135 per share, targeting a $1.75 trillion valuation that would make it the largest IPO in history. The company plans to price its shares on June 11 and begin trading on Nasdaq on June 12 under the ticker SPCX, raising approximately $75 billion through the sale of 555.6 million shares.
The IPO has drawn extraordinary investor demand, with the deal running 3.5 to 4 times oversubscribed as of June 10, according to Reuters. Investor orders have exceeded $250 billion, far outpacing the $75 billion the company aims to raise, signaling broad appetite for exposure to SpaceX’s rocket, satellite, and space infrastructure operations.
The valuation surpasses the previous record holder, Saudi Aramco, which raised $25.6 billion at a $1.7 trillion valuation in 2019, according to Investing.com. SpaceX’s offering is also the largest by capital raised, nearly tripling Aramco’s proceeds.
SpaceX set a fixed IPO price rather than a traditional price range, a move that upended Wall Street convention. Reuters reported that the company refused to lower its $135-per-share price despite feedback during its roadshow, maintaining the fixed pricing through the final order period that closed on June 10.
The company’s 2025 revenue rose 33 percent to $18.67 billion, up from $14.02 billion in 2024, according to its SEC filings. However, SpaceX posted a net loss of $4.94 billion in 2025, according to sources cited by Yahoo Finance, reflecting ongoing investment in its Starship development program and Starlink satellite internet expansion.
Elon Musk controls approximately 50 percent of SpaceX. At the $135 IPO price, his stake would be worth just over $752 billion, according to the New York Times, though regulatory restrictions prevent him from immediately selling shares following the offering.
Sources
- Reuters — IPO pricing at $135 per share, $75 billion raise target, valuation details, and oversubscription rate
- CNBC — IPO price and $1.77 trillion valuation confirmation
- The New York Times — Musk’s stake valuation and IPO pricing details
- Yahoo Finance — IPO demand at $250 billion, oversubscription details, and SpaceX 2025 net loss
- Investing.com — Comparison to Saudi Aramco’s 2019 IPO as previous record holder
- NPR — SpaceX IPO as largest in history by valuation
