SpaceX Prices Record-Breaking IPO at $135 Per Share, Valued at $1.77 Trillion

SpaceX has completed its initial public offering at a price of $135 per share, a deal that values Elon Musk’s rocket and satellite company at approximately $1.77 trillion and positions the listing as the largest stock market debut on record.

The company said it will sell more than 555 million shares, generating roughly $75 billion through the offering. Trading is scheduled to begin Friday under the ticker symbol SPCX.

The valuation surpasses the previous record set by Saudi Aramco, which was valued at $1.7 trillion and raised more than $29 billion when it went public in 2019. Based on the final pricing and share count, SpaceX’s market debut establishes a new benchmark for public offerings by both valuation and capital raised.

The listing arrives after years of anticipation surrounding a company that has become one of the most prominent businesses controlled by Musk. Founded in 2002, SpaceX has built its position in the aerospace sector through reusable rocket technology and its Starlink satellite internet network. The company also expanded its operations earlier this year through the acquisition of Musk’s artificial intelligence company, xAI, which owned the social media platform X.

SpaceX’s market debut comes as other highly valued technology companies prepare for potential public offerings. Anthropic, the developer of the Claude chatbot, and OpenAI, creator of ChatGPT, have both confidentially filed to go public in recent days, according to the article. Each is described as having a valuation approaching $1 trillion.

The offering is also poised to further increase the wealth of existing shareholders. At the I.P.O. price, Musk’s SpaceX stake would be valued at more than $860 billion. Company filings indicate that he is restricted from selling certain shares until specific operational targets are achieved.

Investors received a clearer picture of SpaceX’s financial performance last month when the company disclosed detailed results in its I.P.O. prospectus. The company reported revenue of $18.7 billion last year, representing a 33 percent increase from the previous year. SpaceX also reported a loss of more than $4.9 billion, compared with a profit of $791 million in 2024, citing higher spending related to artificial intelligence initiatives.

The offering could grow further. Goldman Sachs and Morgan Stanley, among the underwriters, have the option to purchase an additional 83 million shares for resale to investors. If that option is fully exercised, SpaceX would raise more than $86 billion from the transaction.

This analysis is based on reporting from The New York Times.

Image courtesy of SpaceX.

This article was generated with AI assistance and reviewed for accuracy and quality.