SpaceX's Largest IPO in History Officially Lands on NASDAQ

June 12, 2026, Elon Musk's space exploration company SpaceX officially listed on NASDAQ, with stock ticker "SPCX," setting the record for the largest IPO in human capital markets history. The IPO priced at a fixed $135 per share, offering approximately 556 million shares, raising a base amount of $75 billion (up to $86.2 billion with over-allotments), with an estimated valuation of about $1.77 trillion based on the offering price, surpassing Saudi Aramco's 2019 IPO fundraising record. After listing, its market capitalization ranks among the top ten U.S. publicly traded companies, only behind tech giants like Microsoft and Apple.

This time, SpaceX broke convention by abandoning the price range inquiry and directly adopting a "accept or reject" single-price model, jointly underwritten by five major investment banks including Goldman Sachs and Morgan Stanley, with up to 30% of shares reserved for retail investors. The market subscription was exceptionally hot, with total intentions exceeding $250 billion, about 3.5 times oversubscribed. Musk holds approximately 42% of the shares, corresponding to over 82% of voting rights. After listing, his net worth approaches one trillion dollars, potentially becoming the world's first "trillionaire."

On the business side, SpaceX has formed three major segments: rocket launches (accounting for nearly 80% of global commercial launches), Starlink satellite internet (the core profit source, with over ten million users), and the integrated xAI artificial intelligence. The prospectus shows that in 2025, revenue reached $18.67 billion, but due to heavy investments in Starship and AI, the company still recorded net losses. Analysts point out that such a large-scale IPO may cause a "bloodletting effect" on market liquidity in the short term, but it also sets a new milestone for the global commercial space and space computing race.