SpaceX is preparing to go public on Nasdaq with a targeted valuation between $1.75 trillion and $1.77 trillion, pricing shares at roughly $135 each. If all goes as planned, pricing happens on or around June 11, 2026, with trading starting the next day. The company is looking to raise up to $75 billion, which would make it one of the largest IPOs in history by a wide margin.
The numbers behind the rocket
SpaceX lost $4.94 billion in 2025. A company seeking a valuation that would rank among the top US public companies by market cap posted a nearly $5 billion net loss while pursuing growth across Starlink satellite internet and orbital AI initiatives.
The governance structure adds another layer of complexity. Musk will retain approximately 85% of voting power through a dual-class share arrangement, despite owning only about 42% of the company’s equity. New investors get economic exposure but very little say in how the company is run.
The Bitcoin wrinkle
