SpaceX raises $75B in the largest IPO in history, valued at $1.77 trillion

SpaceX just went public, and the numbers are genuinely staggering. The company priced its initial public offering at $135 per share on June 11, 2026, raising $75 billion through the sale of 555.6 million shares. That makes it the largest IPO in history, full stop.

The offering values SpaceX at approximately $1.77 trillion, eclipsing Saudi Aramco’s record-setting debut back in 2019. Trading on the Nasdaq is set to begin June 12 under the ticker SPCX.

Demand that defied gravity

Total demand for the offering reached roughly $250 billion, meaning the IPO was nearly four times oversubscribed. For every dollar’s worth of shares available, investors were lining up with almost four dollars in hand.

BlackRock, the world’s largest asset manager, placed a notable order of at least $5 billion.

Where the money goes

SpaceX has outlined three major buckets for the $75 billion in fresh capital. First, expanding the Starlink satellite internet network, which has been the company’s primary revenue engine. Second, ramping up rocket launch capabilities, essentially building more capacity for what is already the world’s dominant commercial launch provider. Third, advancing artificial intelligence projects, including initiatives tied to xAI integration.

Two decades in the making

SpaceX operated as a private company for more than 20 years. During that time, it became the dominant force in commercial spaceflight, landing reusable rockets when the rest of the industry was still debating whether it was possible, and building Starlink into a global satellite internet service.

Revenue hit $18.7 billion in 2025, driven primarily by Starlink subscriptions.

What this means for investors

The nearly 4x oversubscription suggests that institutional investors believe there’s still significant upside. The Elon Musk factor cuts both ways. His substantial shareholding positions him as a likely candidate to become the world’s first trillionaire if the stock performs well. But Musk’s involvement in multiple ventures, from Tesla to xAI to his government-adjacent activities, creates a unique risk profile.

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