SpaceX IPO Debuts on Nasdaq, Valuation Exceeds $2 Trillion

SpaceX, the rocket, satellite, and AI company founded by Elon Musk, debuted on the Nasdaq Global Select Market and Nasdaq Texas on Friday, trading under the ticker SPCX. After 24 years as a private entity, the stock opened at just above $150 a share at 11:46 AM, a 13% increase over its target price of $135 a share. By noon on Friday, shares were trading between $162 and $165.

This market performance led to SpaceX's valuation surpassing $2 trillion, while Elon Musk's net worth exceeded $1 trillion. The initial offering priced on Thursday afternoon at $135 per share for 555.6 million shares, raising $75 billion and valuing the company at $1.77 trillion. This offering represents approximately 4% of SpaceX's roughly 13.08 billion outstanding shares.

The $75 billion raised makes it the largest IPO in stock market history, nearly tripling the previous record set by Saudi Aramco, which raised $25.6 billion in December 2019 at a $1.71 trillion valuation. SpaceX now ranks as the sixth-most valuable company in the U.S. and seventh worldwide, surpassing Meta and Tesla.

Ahead of the debut, Elon Musk addressed SpaceX employees at Nasdaq's Starbase, Texas location, reiterating the company's goals to facilitate travel to the Moon and Mars for a broader audience. Musk shared that he initially gave SpaceX less than a 10% chance of success but expressed confidence in the team following over two decades of development.

Financially, SpaceX reported a $4.9 billion net loss in 2025 on revenues of $18.7 billion, with the majority derived from Starlink. The company, combined with xAI, has accumulated a deficit of $41.3 billion.

According to Fortune, underwriters hold a 30-day option to purchase up to an additional 83.3 million shares, which could increase the total raise to $86.25 billion.