SpaceX began trading on the Nasdaq on June 12, 2026, under the ticker symbol SPCX at the IPO price of $135 per share, marking the largest initial public offering in history after raising $75 billion. The offering values the rocket and satellite company at approximately $1.75 trillion, surpassing the previous record set by Saudi Aramco’s 2019 IPO, which raised $29.4 billion.
The company priced its IPO on the evening of June 11, selling 555.6 million Class A shares at the fixed price. The $75 billion raised represents more than 2.5 times the capital raised by Saudi Aramco seven years earlier, according to financial analysts tracking the milestone.
SpaceX took an unconventional approach to the offering by publicly announcing a fixed share price of $135 well before the IPO date, bypassing the traditional roadshow and price-range process that Wall Street typically uses. Reuters reported that SpaceX told underwriting banks it would not move from the $135 price, a departure from standard IPO protocol where companies and banks negotiate pricing based on investor demand during the roadshow period.
The company generated $18.7 billion in revenue in 2025, according to investor filings, with Starlink contributing approximately $11.4 billion of that total. However, SpaceX reported an operating loss of $4.2 billion, raising questions among analysts about whether the valuation can be justified by future earnings growth.
Morningstar analysts warned that the company is “significantly overvalued” ahead of the IPO, while Fortune reported that SpaceX would need to grow at rates no company has ever achieved to justify the $1.75 trillion baseline valuation. Damodaran, a prominent valuation expert, suggested the company’s true value is closer to $1.2 trillion, according to Yahoo Finance.
When Saudi Aramco went public in December 2019, it initially raised $25.6 billion, later increased to $29.4 billion through an over-allotment option. That IPO was considered unprecedented at the time, valuing the Saudi state oil company at approximately $1.7 trillion. SpaceX’s offering nearly triples the capital raised and exceeds Aramco’s valuation by roughly $50 billion.
Options on SpaceX stock are set to begin trading on June 16, 2026, two trading days after the IPO debut, according to SpotGamma. Goldman Sachs served as the lead underwriter for the offering, with Morgan Stanley and other major investment banks participating in the syndicate.
Sources
- Reuters — IPO pricing at $135 per share, $75 billion fundraise, fixed-price structure, trading date, ticker symbol, and valuation
- The New York Times — IPO price, capital raised, valuation, and analyst commentary on growth requirements
- The Guardian — Trading begins June 12, 2026 on Nasdaq
- Fortune — Unconventional fixed-price offering structure and growth analysis
- Bloomberg — IPO pricing and valuation details
- Business Insider — Capital raised and share count details
- Yahoo Finance — Valuation commentary and analyst perspectives
- CNBC — Morningstar analyst assessment and unconventional IPO structure
- SpotGamma — Options trading commencement date
- LinkedIn — Comparison to Saudi Aramco 2019 IPO record
