• SpaceX has priced its IPO at $135 per share, targeting a valuation of approximately $1.75 trillion.
  • The company reportedly generated $8 billion in profit on $15–16 billion in revenue last year.
  • Nasdaq has introduced fast-entry rules to accommodate the listing, expected to be the largest IPO in history.

A Historic Market Moment

SpaceX is poised to debut on the Nasdaq in what is expected to be the largest initial public offering ever, with shares priced at $135 and a valuation around $1.75 trillion, according to people familiar with the matter. The offering is targeting proceeds of about $75 billion, including the greenshoe option, underscoring immense investor appetite for Elon Musk's space venture.

Profitability and Scale

The company's financials have bolstered confidence, with early reports showing roughly $8 billion in profit on $15–$16 billion in revenue for the trailing year. This robust profitability, driven by its Starlink satellite internet service and government launch contracts, sets SpaceX apart from many high-profile tech IPOs that have prioritized growth over earnings.

Accelerated Path to Listing

To accommodate the massive listing, the Nasdaq has rolled out fast-entry rules designed to accelerate large-cap listings, a move that could reshape IPO dynamics. "The exchange is clearly signaling a desire to attract mega-issuers," said a capital markets strategist. The structure of the deal is expected to involve multiple underwriters and broad institutional participation, according to bankers close to the process.

Implications for the Aerospace Sector

The IPO's scale could catalyze a wave of capital raising across aerospace and defense, as well as adjacent technologies like AI. Investors are closely watching how the company balances its growth ambitions—particularly the development of the Starship rocket and Starlink's global expansion—with the demands of public market disclosure and governance.

The Road Ahead

Trading is expected to be volatile initially as the market digests SpaceX's complex business mix, from launch services to satellite broadband. "The debut will set the tone for future mega-IPOs," said an analyst. The company's long-term success hinges on sustaining revenue growth and managing regulatory scrutiny, particularly around Starlink's deployment in new markets.

Correction: An earlier version of this article misstated the valuation range. The correct figure is approximately $1.75 trillion.