SpaceX’s $1.77 trillion IPO is set to become the largest in history this week, and, analysts say, among the most controversial.
The IPO, which aims to raise $75 billion by selling 555 million shares at a fixed price of $135 per share, starts trading on Friday, June 12, and will be listed on the NASDAQ under the ticker SPCX.
The IPO, and its gigantic size, reflects investor enthusiasm for all things AI, but it will also help to break a rut in the IPO market. Last year, there were only about 200 public offerings—roughly half the number of traditional IPOs during the 2021 boom. Now, on the back of investor enthusiasm for high-growth plays, AI heavyweights Anthropic and OpenAI have also confidentially filed to go public.
Yet SpaceX’s IPO has already become a lightning rod for debate. Some market onlookers argue its eye-popping valuation is untethered from its fundamentals. SpaceX posted $18.67 billion in 2025 revenue, up 33%, while swinging to a $4.94 billion net loss: about 94x trailing sales at the IPO price.
Others are convinced Elon Musk will achieve his lofty ambitions and, in the process, replicate the Tesla playbook to make SpaceX one of the biggest companies in the world by market cap.
