• SpaceX priced its IPO at $135 per share, with shares opening around $172 on Nasdaq, signaling strong investor demand.
  • The listing, which took place on June 12, 2026, is the largest IPO on record by several metrics, with valuations exceeding $1.5 trillion.
  • The company’s diversified business model, combining launch services, Starlink connectivity, and AI applications, is drawing significant investor interest.

SpaceX shares began trading on Nasdaq on Friday at $172 per share, a 27% premium over the initial public offering price of $135, underscoring intense demand for Elon Musk’s aerospace and satellite internet giant. The opening trade ranks among the most anticipated in recent history, cementing SpaceX’s position as a bellwether for high-growth technology and infrastructure investments.

“It’s an unprecedented moment for capital markets,” said a person familiar with the listing. “Investors are betting on SpaceX’s ability to dominate both launch services and space-based connectivity, a dual engine that few competitors can match.” The IPO raised over $20 billion at a valuation near $1.7 trillion, according to sources close to the deal.

The company reported roughly $8 billion in profit on $15–16 billion in revenue in the prior fiscal year, reflecting strong profitability despite heavy capital expenditure. Analysts attribute the high valuation to SpaceX’s Starlink subscriber growth, which has surpassed 2 million users globally, and the firm’s reusable rocket technology, which continues to lower launch costs.

As SpaceX transitions to a public company, leadership remains anchored by Musk, who retains majority voting control through a dual-class structure. Corporate governance adjustments typical for a large private-to-public transition are underway, with an emphasis on transparency regarding Starlink’s financials and government contracts. “Investors are watching closely how the board evolves and how Musk balances his role with other ventures,” noted a governance expert familiar with the listing.

The IPO has broader implications for capital allocation in technology and industrials. Fund managers are now recalibrating portfolios to include SpaceX, often classified as a “capacity stock” alongside energy and infrastructure plays. “This is a new asset class—tech-enabled heavy industry,” said a portfolio manager involved in the offering. “It will draw significant inflows from passive funds and could set a precedent for future mega-IPOs in aerospace and AI.”

The regulatory environment for the listing was closely scrutinized, given national security concerns tied to space technology. The Committee on Foreign Investment in the United States reviewed the deal but raised no objections, with customary export control commitments remaining in place.

Like any large listing, the debut faced some hiccups. By afternoon trading, shares had slipped to $168, amid typical IPO-day volatility. Observers noted that a few large institutional orders were still being processed, contributing to pricing noise. A market maker stated, “Initial oversubscription often leads to a slight pullback. The long-term story remains intact.”

Correction: An earlier version of this article misstated the IPO price as $132. The correct price is $135.