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SpaceX went public on Nasdaq (SPCX) on June 12, 2026 — the largest IPO in stock market history. Priced at $135/share, it opened at $150, hit a day-high of $168.75 (+25%), and closed at $161.11 (+19%). The offering raised $75B on 556.6M shares and was 400%+ oversubscribed. Morgan Stanley led stabilization. Satellite stocks (Planet Labs, AST SpaceMobile) dropped 10%+ on the day. For the full VC return math, see our $60B+ VC returns analysis.
| Metric | Value | Notes |
|---|---|---|
| IPO Price | $135/share | 556.6M shares offered on Nasdaq (SPCX) — June 12, 2026 |
| Day 1 Open | $150.00 | +11.1% from IPO price on 58M opening shares |
| Day 1 High | $168.75 | +25% from IPO price — session high |
| Day 1 Close | $161.11 | +19.3% from IPO price — $1.77T market cap |
| Capital Raised | $75B | Largest IPO in history — 3x Alibaba's record; Morgan Stanley stabilization |
| Oversubscription | 400%+ | Demand 4x the available shares |
| Retail Allocation | ~30% | 3-6x typical 5-10% — Musk insisted on retail access |
| Musk Voting Control | 82%+ | Retains control post-IPO |
| Total Funding Raised | ~$12B+ | Across all rounds since 2002 |
| Starlink Revenue (2026 est.) | $22–24B | Largest and only profitable segment; 10,000+ satellites |
| Total SpaceX Revenue (2026 est.) | $22–24B | Starlink + launch + gov contracts |
| Launch Revenue | ~$3–4B | Falcon 9, Falcon Heavy, Starship test missions |
| Government Contracts | ~$4–5B | NASA Artemis, NRO, DoD, Space Force |
| Starlink Subscribers | 4.5M+ | Residential, maritime, aviation, enterprise, gov |
| Starlink Satellites Deployed | 7,000+ | Low Earth Orbit constellation, V2 Mini rollout |
| Employees | ~14,000+ | Hawthorne, Starbase, Cape Canaveral, global |
| 2025 Launch Cadence | 130+ launches | Record year — more than all other providers combined |
| Starlink Profitability | Profitable | Starlink reached profitability in late 2024 |
| Implied EV/Revenue | ~74–80x | At $1.77T market cap on ~$22–24B revenue |
| Claimed TAM | $28.5T | Per S-1 filing — mostly AI enterprise applications |
| Company | Valuation / Market Cap | Revenue (est.) | Status |
|---|---|---|---|
| SpaceX (SPCX) | $1.77T | ~$22–24B | Public (NASDAQ) — IPO'd June 12 |
| Blue Origin (Amazon/Bezos) | Private (est. $15–20B) | ~$1–2B | Private |
| Rocket Lab (RKLB) | ~$12–15B | ~$600M–$800M | Public (NASDAQ) |
| United Launch Alliance | Acquired by Sierra Space/L3Harris talks | ~$2–3B | JV (Boeing/Lockheed) |
| Relativity Space | ~$4B (last round) | Pre-revenue | Private |
| Planet Labs (PL) | ~$2–3B | ~$250M | Public (NYSE) |
SpaceX is selling 555.6 million shares at a fixed $135 per share — a $75B raise at a $1.77T valuation, more than triple Alibaba's record for the largest IPO ever. The stock lists on Nasdaq under ticker SPCX on June 12, 2026. Goldman Sachs leads the offering, followed by Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase.
At $1.77T, SpaceX debuts as roughly the seventh-most-valuable company in the U.S. — above Tesla (~$1.6T). That's a massive step up from the ~$350B Q1 2026 tender pricing, reflecting public-market appetite for the full bundle: launch dominance, Starlink's profitable $11B+ ARR subscription business, and the Starship option on the future.
For years the consensus was a standalone Starlink spinout IPO while SpaceX stayed private. The actual deal flips that: public investors get the whole company — launch, Starlink's 4.5M+ subscribers across residential, maritime, aviation, and government segments, and Starship development — in a single listing.
Until now, the only way into SpaceX was secondary platforms like Forge Global, EquityZen, and Hiive at $100K+ minimums, subject to SpaceX's right of first refusal — with implied valuations climbing from $180B in late 2023 to $350B by early 2026. Anyone who bought on secondaries at those marks is sitting on a large paper gain at the $1.77T IPO price. After June 12, access is a brokerage account.
| Milestone | Status | Why It Matters for IPO |
|---|---|---|
| Orbital test flights | Multiple completed (2024–2025) | Demonstrates vehicle viability |
| Booster catch (chopsticks) | Successfully demonstrated | Key reusability proof point |
| Ship reentry & landing | In progress — improving each flight | Full reusability = 10x cost reduction |
| Payload deployment | Testing phase | Unlocks Starlink V3, commercial missions |
| Rapid turnaround reuse | Not yet achieved | Long cited by Musk as an IPO precondition — the listing came first |
| Human-rated Starship | In development (NASA Artemis HLS) | Government contract anchor |
SpaceX closed its first trading day at $161.11/share — a $1.77 trillion market cap, making it the 7th largest company in the US (ahead of Tesla at ~$1.6T). The IPO priced at $135/share, opened at $150, and was 400%+ oversubscribed. From $74B in 2021 to $1.77T in 2026 — a 24x increase in 5 years.
SpaceX went public on Nasdaq under ticker SPCX on June 12, 2026. The stock priced at $135/share, opened at $150, hit $168.75 intraday, and closed at $161.11 (+19%). Morgan Stanley led stabilization. It raised $75B — the largest IPO in stock market history.
SPCX trades on Nasdaq as of June 12, 2026. Anyone with a brokerage account can buy it. Before the IPO, the only routes were secondary platforms (Forge, EquityZen, Hiive) at $100K+ minimums. Musk allocated ~30% of IPO shares to retail investors — 3-6x the typical 5-10%.
Starlink's estimated annual recurring revenue is ~$11B as of mid-2026, with 4.5M+ subscribers across residential ($120/mo), business ($250–500/mo), maritime ($5,000/mo), aviation, and government segments. Starlink reached profitability in late 2024. At 15–20x ARR, a standalone Starlink IPO could value the business at $165–220B.
SpaceX completed over 130 orbital launches in 2025 — a record for any launch provider and more than every other launch provider in the world combined. The Falcon 9 booster fleet has demonstrated over 300 reflights. This cadence generates an estimated $3–4B in annual launch revenue and cements SpaceX's dominance in the commercial launch market.
As of mid-2026, Starship has completed multiple integrated test flights with significant progress toward full reusability. The Super Heavy booster has been successfully caught by the launch tower ('chopsticks'). Ship reentry and landing precision continues to improve with each flight. Full rapid-turnaround reusability hasn't been achieved yet — public SPCX investors are effectively buying that milestone as the upside case.