12th June 2026 – (New York) SpaceX is poised to begin trading on Friday under the ticker SPCX, with opening indications easing to about $162 a share, down from an initial $175. Even so, the price implies a first‑trade gain of roughly 20% on the $135 IPO level.
Elon Musk and president Gwynne Shotwell marked the debut by ringing the opening bell, with Musk in Texas and Shotwell at Nasdaq in New York. In its SEC filing late Thursday, SpaceX said it would raise $75 billion by selling 555.6 million shares at $135, valuing the company at about $1.77 trillion and placing it among the most valuable U.S. corporates.
Speaking on a JPMorgan livestream before the float, Musk said SpaceX has been cash‑flow positive since around 2015 and is listing to fund a “significant growth phase,” including plans for more than 100,000 communications satellites and AI data centres in space. While founded as a reusable‑rocket business, its profit engine today is the Starlink satellite internet division.
NYU’s Aswath Damodaran cautioned on valuation, arguing that even an aggressive case caps fair value nearer $1.3 trillion and describing a touted $28.5 trillion total addressable market as “a hallucination.” Meanwhile, opening‑day colour includes a sizable protest in Times Square and brisk investor interest, with banks set to collect about $500 million in IPO fees.
SpaceX acquired Musk’s AI start‑up xAI in February 2026, folding in Grok models, data centres and the social network X. According to its prospectus, the company has accumulated a total deficit of $41.3 billion since its 2002 founding, underscoring both the capital intensity of its ambitions and the stakes riding on today’s debut.
