SpaceX, the space exploration company owned by world's richest person Elon Musk, updated its prospectus on June 3 to lock in its initial public offering price at $135 per share, issuing approximately 556 million new shares to raise about $75 billion in total capital. The pricing implies a fully diluted valuation of approximately $1.77 trillion, making this the largest IPO in history and surpassing the current record held by Saudi Aramco, which achieved a $1.7 trillion valuation and raised $29 billion when it went public in 2019. SpaceX is scheduled to list on Nasdaq on June 12 under the ticker symbol SPCX.
SpaceX Sets $135 IPO Price and June 12 Nasdaq Listing
According to the updated prospectus, SpaceX set its IPO price at $135 per share without first establishing a preliminary pricing range, a step most companies take to gauge investor demand and adjust final pricing accordingly. Foreign media reports noted that the decision to publicly confirm the share price one week before the IPO is rare on Wall Street and disrupts the long-standing market price discovery mechanism. The move highlights Musk's determination to raise record-breaking funds through novel methods.
The IPO will make Musk's SpaceX holdings worth $866.5 billion. SpaceX will trade on Nasdaq under the ticker symbol SPCX starting June 12.
SpaceX Reports $4.694 Billion Q1 2026 Revenue Amid Continued Losses
The prospectus disclosed SpaceX's financial performance from 2023 to 2025. The company generated revenue of $10.387 billion, $14.015 billion, and $18.674 billion respectively across those three years. Operating profit for the same periods was -$3.505 billion, $466 million, and -$2.589 billion. Net profit stood at -$4.628 billion, $791 million, and -$4.937 billion respectively.
For the first three months of 2026, SpaceX achieved revenue of $4.694 billion, up 15.4% year-over-year. During the same period, the company recorded an operating loss of $1.943 billion and a net loss of $4.276 billion, with the loss amount nearly equaling the full-year 2025 level.
SpaceX IPO Precedes OpenAI and Anthropic Public Offerings
Foreign media reports indicate that SpaceX's IPO serves as a bellwether for a wave of major company listings, with artificial intelligence giants OpenAI and Anthropic both on the list. Anthropic completed a confidential filing on Monday of this week, while OpenAI plans to submit its listing application within weeks. Both companies currently carry valuations approaching one trillion dollars. Based on this year's developments, investors may initially withdraw funds from other stocks to invest in SpaceX, then reallocate later this year or next year to bet on OpenAI and Anthropic. This means whichever company lists first may secure more of the increasingly scarce capital.
FAQ
What did SpaceX announce on June 3 regarding its IPO?
SpaceX updated its prospectus on June 3 to set its IPO price at $135 per share, issuing approximately 556 million new shares to raise about $75 billion in total capital. The pricing implies a fully diluted valuation of approximately $1.77 trillion, making it the largest IPO in history. The company is scheduled to list on Nasdaq on June 12 under the ticker symbol SPCX.
How did SpaceX perform financially in the first three months of 2026?
In the first three months of 2026, SpaceX achieved revenue of $4.694 billion, representing a 15.4% year-over-year increase. During the same period, the company recorded an operating loss of $1.943 billion and a net loss of $4.276 billion, with the loss amount nearly equaling the full-year 2025 level.
