SpaceX has priced its initial public offering at $135 per share today, raising $75 billion and valuing the company at $1.77 trillion, according to reports. The offering marks one of the largest IPOs in history and sets the stage for trading on Nasdaq on Friday.
The deal involves 555.56 million shares and significant retail participation.
Valuation and Investor Structure
The company, led by Elon Musk, structured the IPO with strong founder control, retaining an 82% stake after listing. Major underwriters include Goldman Sachs, Morgan Stanley, Bank of America Securities, Citigroup, and J.P. Morgan. The valuation surpasses several global financial giants and previous IPO records, including Saudi Aramco’s 2019 listing.
Business Model and Growth Outlook
SpaceX, including its Starlink internet unit, continues to generate most revenue from satellite services. The company also recently secured a multiyear cloud computing agreement with Alphabet’s Google. Its operations span launch services, satellite internet, and emerging artificial intelligence initiatives linked to xAI.
Market Risks and Competition
Despite strong investor demand, analysts question whether the valuation reflects fundamentals, as SpaceX reported losses last year. Competition from Blue Origin and other space firms continues to intensify. Meanwhile, the broader IPO market is expected to strengthen in 2026, driven by artificial intelligence listings such as OpenAI and Anthropic.
Investors will monitor early trading performance closely as SpaceX begins public market operations on Nasdaq. Market sentiment will depend on liquidity demand and macroeconomic conditions. Analysts expect volatility in initial sessions given high valuation expectations and limited comparable precedents in space sector IPOs driven by investor enthusiasm and long term growth expectations across space technology markets globally.
