Space Exploration Technologies Corp., trading as $SPCX, is making headlines with its record-breaking initial public offering priced at $135 per share, valuing the company at an astonishing $1.77 trillion. This IPO, set to open on Friday, June 12th, 2026, is poised to be the largest in history, raising over $75 billion and surpassing the previous record held by Saudi Aramco. Elon Musk, who holds a controlling stake in $SPCX, is on the brink of becoming the world’s first trillionaire, with his net worth expected to exceed $1.1 trillion once trading begins. Musk’s control over roughly 80% of shareholder voting rights, combined with his roles as CEO, CTO, and chairman, underscores his dominant influence over the company’s future direction.
Wall Street’s first major coverage of $SPCX by Oppenheimer projects a nearly 41% upside from the IPO price, setting a $190 price target. The investment bank highlights SpaceX’s unique position as a vertically integrated AI and aerospace company, combining satellite internet via Starlink, advanced rocket technology, and Musk’s AI venture xAI. However, analysts caution about potential volatility and operational challenges, especially in manufacturing and ambitious projects like space-based data centers. Retail investor enthusiasm is unprecedented, with $70 billion in retail orders alone, nearly matching the entire offering size.
Major venture capital firms and institutional investors stand to gain tens of billions from the IPO. Founders Fund, led by Peter Thiel, holds a stake now worth over $50 billion, while Andreessen Horowitz’s investment exceeds $10 billion. Other prominent investors include Ron Baron’s funds, Cathie Wood’s Ark Invest, and Fidelity, all of whom have seen $SPCX become a cornerstone of their portfolios. The company’s Starlink segment, which generated $11.4 billion of the $18.7 billion revenue in 2025, remains the only profitable division, while the broader valuation hinges on ambitious growth in AI, satellite communications, and space exploration.
Despite the excitement, some experts urge caution, noting the speculative nature of valuing a company with such futuristic goals and unproven technologies. Senator Elizabeth Warren has voiced concerns about governance and valuation transparency ahead of the IPO. Still, the market’s overwhelming demand and Musk’s track record of defying skeptics have made $SPCX one of the most closely watched debuts in recent memory, signaling a new era for space and AI industries combined.
U.S. markets are currently closed and will reopen today at 9:30 AM ET, when $SPCXwill begin trading on the Nasdaq exchange.
Did you know?
The largest IPO in history before SpaceX was Saudi Aramco’s in 2019, which raised $29.4 billion—less than half of what SpaceX aims to raise with its debut.
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