The upcoming initial public offering of Space Exploration Technologies Corporation, better known as SpaceX, is shaping up to be the largest IPO in the US history.
The company will trade under the ticker symbol SPCX on Nasdaq, but it is not expected to be included in the Dow Jones stock market immediately, due to strict selection rules that delay entry.
According to the filing, it is offering around 555,555,555 million shares at a fixed price of $135 per share.
The debut is scheduled for June 12 2026.
SpaceX aims to raise up to $75 billion, with that figure potentially rising to $86 billion if underwriters fully exercise their greenshoe option — a provision in an underwriting agreement that allows underwriters to sell up to 15 percent more shares than originally planned — which could value the company at approximately $1.77 trillion.
Here are the important developments surrounding SpaceX’s market debut.
Structure
SpaceX began the regulatory process with a confidential filing to the US Securities and Exchange Commission on April 1 2026, followed by a public S-1 filing, an IPO registration document on May 20.
Unlike most major listings, the company did not set a price range.
After an intensive investor roadshow, final pricing is expected on June 11, with trading set to begin on June 12.
The deal is structured as a fully primary offering, meaning all proceeds will go directly to SpaceX rather than existing shareholders.
Elon Musk will also be subject to a 366-day post-IPO lockup period, according to the S-1 IPO filing.
SpaceX is no longer just a rocket launch operator. It now operates across three major segments after the company announced a merger with xAI.
The first is launch services, led by the Falcon 9 fleet and the Starship programme, which together dominate US orbital launches.
And then comes the Starlink. The satellite internet business now serves more than 12 million subscribers across 160 countries and it generated about $11.39 billion in revenue in 2025, with margins above 60 percent.
The third is artificial intelligence, through xAI, which was merged into SpaceX in February 2026.
The division includes major cloud computing agreements, including a reported $1.25 billion per month deal with Anthropic and a $920 million per month compute arrangement with Google.
Reports suggest Elon Musk is considering a merger between Tesla, his electric vehicle company, and SpaceX.
Financial picture
SpaceX’s revenue rose 33 percent year-on-year in 2025 to over $18 billion.
However, heavy investment in AI infrastructure and roughly $3 billion annually in Starship research and development led to a net loss of $4.94 billion.
