SpaceX Debuts on Nasdaq with Historic $1.77 Trillion Valuation
SpaceX, the rocket, satellite, and AI company led by CEO Elon Musk, debuted on the Nasdaq Global Select Market under the ticker SPCX. The initial public offering, which priced at $135 a share for 555.6 million shares, raised $75 billion and valued the company at $1.77 trillion, marking the largest IPO in stock market history. Musk addressed Nasdaq ahead of the debut, reiterating SpaceX's long-term goals of enabling travel to the moon and Mars. He also reflected on his initial skepticism about the company's success, stating he initially gave SpaceX "less than a 10% chance of succeeding."
SpaceX has made its highly anticipated debut on the Nasdaq Global Select Market, trading under the ticker SPCX. This public offering concludes a 24-year period during which the company operated as a private entity.
The initial public offering was priced at $135 per share for 555.6 million shares, successfully raising $75 billion, the target amount. This offering values SpaceX at $1.77 trillion, making it the largest IPO in stock market history. Underwriters also hold a 30-day option to acquire up to 83.3 million additional shares, potentially increasing the total raise to $86.25 billion.
This valuation surpasses the previous record set by Saudi Aramco, which raised $25.6 billion at a $1.71 trillion valuation in December 2019. In inflation-adjusted terms, however, Aramco's raise was equivalent to $33.2 billion at a $2.21 trillion valuation.
The offering represents approximately 4% of SpaceX's roughly 13.08 billion outstanding shares. With this valuation, SpaceX instantly becomes the sixth-most valuable company in the U.S. and the seventh-most valuable worldwide, placing it ahead of companies like Meta and Tesla.
Financially, SpaceX reported a $4.9 billion net loss in 2025 on $18.7 billion in revenue, primarily from Starlink. The combined entity with xAI has an accumulated deficit of $41.3 billion.
Ahead of the debut, CEO Elon Musk addressed Nasdaq in Texas. He articulated the company's "extraterrestrial goals," stating, "SpaceX wants to be able to take you to the moon." Musk also expressed confidence in achieving these objectives with his team. He recalled his initial low expectations for the company, stating, "I gave SpaceX less than a 10% chance of succeeding at all." Musk emphasized SpaceX's mission to "take science fiction and create an exciting, inspiring future for everyone."
SpaceX may be fast-tracked for inclusion in the Nasdaq-100 index within 15 trading days, a change under a Nasdaq rule that took effect in May. However, it will not be eligible for the S&P 500, which requires sustained profitability.
According to Fortune, these developments mark a significant moment in stock market history.
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