For years, SpaceX has fascinated investors, the media, and the general public alike. Much of that interest has been driven by its reusable rocket program, the rapid expansion of the Starlink satellite network, and the larger-than-life presence of founder and CEO Elon Musk.
Yet, in the company’s 24-year history, no event has generated as much attention as its initial public offering. The sheer scale of the offering captured global interest. SpaceX priced 555.6 million shares at $135 each, raising approximately $75 billion in what became the largest IPO ever recorded. The debut also helped propel Elon Musk to become the world’s first trillionaire.
SpaceX Is Now a Public Company. What Happens Next?
The enthusiasm surrounding the stock didn’t fade after the opening bell. During its first full trading day, SpaceX shares continued climbing. By 2:30 p.m. ET, the stock had surged more than 15% to reach $186.15.
The Latest Developments in the SpaceX IPO
SpaceX officially began trading on Nasdaq on June 12, opening at $150 per share — roughly 11% above its IPO price. Momentum continued throughout the day, with shares at one point rising nearly 30% during intraday trading before closing at $160.95, representing a gain of 19%.
As expected, investor demand generated significant trading activity. Robinhood reported experiencing record levels of traffic in the hours following SpaceX’s long-awaited market debut.
During an interview with CNBC on June 12, SpaceX President and COO Gwynne Shotwell made several noteworthy comments. Among them was a remark that could draw attention from Tesla investors: she suggested that “a merger between SpaceX and Tesla might make Elon’s life a little easier.”
Financial institutions involved in the offering also emerged as major beneficiaries. According to The Wall Street Journal, banks collectively earned around $500 million in fees, with Goldman Sachs and Morgan Stanley among the biggest winners.
Musk also took to X to express gratitude toward SpaceX employees as the company’s valuation climbed. “I love the incredible people of SpaceX beyond words,” he wrote. He later reshared several IPO-related posts, including an image of insiders wearing green shoes — a likely reference to the “greenshoe option,” which allows underwriters to sell additional shares when investor demand exceeds expectations.
For a deeper examination of the IPO and its wider implications, TechCrunch Senior Reporter Sean O’Kane and AI Editor Russell Brandom discussed the topic in a special episode of the Equity podcast.
How to Follow SpaceX’s Market Performance
Given the scale of the offering, a vast financial infrastructure supports the stock’s debut and ongoing trading activity. SpaceX trades on the Nasdaq exchange, where investors can monitor official pricing and performance data.
However, share prices tell only part of the story. Financial news organizations such as Bloomberg and CNBC continue to provide real-time updates and analysis, making them valuable resources for tracking developments surrounding the stock.
The SpaceX IPO by the Numbers
SpaceX’s regulatory filings revealed several striking figures about the business.
The company reported revenue exceeding $18 billion in 2025 while posting a net loss of approximately $4.9 billion. Since its founding, cumulative losses have surpassed $37 billion.
Elon Musk retains approximately 85.1% of SpaceX’s voting power, giving him extraordinary influence over the company despite its public listing.
Another noteworthy statistic came from The New York Times, which estimated that around 4,400 SpaceX employees could become millionaires as a result of the IPO.
Who Benefits — and Who Doesn’t?
The largest IPO in history has created substantial wealth for investors, employees, and especially Elon Musk.
Musk’s stake in SpaceX, combined with gains tied to Tesla, pushed his estimated net worth beyond the trillion-dollar threshold.
Even after going public, Musk is expected to maintain majority voting control over SpaceX, granting him influence that extends beyond what many other prominent technology founders possess.
While some early investors and employees stand to benefit significantly, others — particularly certain participants in special purpose investment vehicles (SPVs) — may face delayed payouts, additional fees, and limited transparency regarding their exact holdings until lock-up periods expire.
What the S-1 Filing Revealed
SpaceX’s S-1 registration documents offered the public its most comprehensive look yet at the company’s operations, finances, and long-term ambitions.
The filings highlighted the growing importance of Starlink to SpaceX’s business model, outlined the company’s substantial historical losses, and showcased its expanding artificial intelligence interests through xAI.
The documents also raised questions about Starship’s path toward full reusability, suggesting that achieving the company’s long-term goals may prove more challenging than previously anticipated.
Additionally, revisions to the filing warned investors about the possibility of future share dilution, further fueling speculation regarding potential strategic moves involving Tesla.
Major Agreements Ahead of the IPO
In the months leading up to its market debut, SpaceX secured several high-profile agreements that strengthened its financial position.
Among the most significant was a major compute partnership involving Anthropic, which agreed to pay substantial sums for AI infrastructure capacity.
Google also entered into a major arrangement with SpaceX, committing to monthly payments in exchange for access to advanced computing resources to support growing demand for its artificial intelligence services.
These agreements helped reinforce investor confidence ahead of one of the most closely watched public offerings in modern financial history.
