SpaceX Completes Record-Breaking IPO, Closes at $2.1 Trillion Market Cap on Nasdaq Debut

Washington, D.C. – Space Exploration Technologies Corp. (SpaceX) made history on June 12, 2026, with the largest initial public offering ever, raising $75 billion and debuting on the Nasdaq under the ticker SPCX with strong investor demand that propelled its shares up nearly 19% on the first day of trading.

The company priced its shares at $135, selling approximately 555.6 million shares in the record deal. Shares opened at $150 and climbed as high as $176.52 during the session before closing at approximately $160.95, giving SpaceX a market capitalization exceeding $2.1 trillion and making Elon Musk the world’s first trillionaire.

The IPO was heavily oversubscribed, with total orders reportedly surpassing $250 billion, including more than $100 billion from retail investors. Underwriters allocated a significant portion — up to 30% in some cases — to individual buyers, a higher retail share than typical for such offerings. Goldman Sachs led the underwriting, with strong participation from major banks.

SpaceX, founded by Musk in 2002, has transformed the space industry with reusable rockets, Starlink satellite internet (now serving over 10 million users), and ambitious plans for Mars colonization and AI integration. The company reported $18.7 billion in revenue last year but still posted operating losses amid heavy investment in next-generation vehicles and infrastructure. The public debut provides massive capital to accelerate Starship development, expand Starlink globally, and pursue new frontiers in space-based data centers and defense contracts.

The offering instantly ranks SpaceX among the world’s most valuable companies, surpassing Tesla in Musk’s portfolio and placing it ahead of several tech giants. Analysts have mixed views on the lofty valuation, with bulls citing explosive growth potential in satellite broadband, reusable launch economics, and government partnerships, while skeptics question whether current profitability and execution risks justify the premium.

Musk celebrated the milestone, noting it will enable greater innovation and public ownership in humanity’s multi-planetary future. The debut comes amid broader market enthusiasm for space and AI-related technologies, though trading volume was massive with over 500 million shares changing hands.

SpaceX’s successful transition to a public company marks a new chapter for the private space sector and sets a high bar for future mega-IPOs. Shares are expected to remain volatile as the market digests the company’s long-term growth story and operational challenges. Investors now have direct access to one of the most ambitious and influential companies in modern history.