SpaceX makes historic public debut: shares surge 19% in first day of trading

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SpaceX makes historic public debut: shares surge 19% in first day of trading

SpaceX, the aerospace company founded by Elon Musk, made its long-awaited public debut on the Nasdaq on Friday, marking the largest initial public offering in history. The company priced 555.6 million shares at $135 each, raising $75 billion, and shares opened at $150 — an 11% pop — before closing the day at $160.95, up 19% from the offering price. The IPO cements SpaceX’s transition from a privately held rocket and satellite company to a publicly traded giant, with implications for the broader space economy, artificial intelligence, and Elon Musk’s personal wealth.

A record-breaking market debut

The sheer scale of the SpaceX IPO is unprecedented. At $75 billion, it surpasses all previous IPOs, including Alibaba’s $25 billion listing in 2014 and Saudi Aramco’s $29.4 billion offering in 2019. The offering also positions Musk to become the world’s first trillionaire, as his ownership stake — approximately 85.1% voting power — gives him a monarchical grip over the publicly traded company. Trading volume was heavy, with Robinhood reporting record-breaking traffic on its platform in the hours after the debut. Underwriters Goldman Sachs and Morgan Stanley earned an estimated $500 million in total fees, according to the Wall Street Journal.

Inside the S-1: financials, risks, and AI ambitions

The company’s S-1 registration document, filed ahead of the IPO, revealed a business dominated by its Starlink satellite internet division. SpaceX reported revenues of over $18 billion in 2025, but also disclosed a net loss of $4.9 billion for the year, contributing to cumulative losses exceeding $37 billion since inception. The filing also highlighted SpaceX’s growing focus on artificial intelligence through its xAI division, with major compute deals including a $1.25 billion per month contract with Anthropic and a $920 million per month agreement with Google. The S-1 also warned investors of potential future dilution, fueling speculation about a possible merger between SpaceX and Tesla — a notion SpaceX COO Gwynne Shotwell did not dismiss in a CNBC interview on Friday, saying such a move ‘might make Elon’s life a little easier.’

Who benefits — and who doesn’t

The IPO creates a significant payday for early investors, employees, and Musk himself. According to the New York Times, approximately 4,400 SpaceX employees could become millionaires through their stock holdings. However, lower-tier SPV (special purpose vehicle) investors face hidden fees, lengthy payout delays, and the risk of outright fraud after lock-up periods expire. Musk’s voting control — more than 50% — gives him outsized influence over corporate decisions, raising governance concerns among some institutional investors. The company’s Starship program also faces an uncertain path to reusability, as detailed in the S-1, which may disappoint both boosters and critics of the ambitious rocket system.

What this means for the space industry and investors

SpaceX’s public listing represents a watershed moment for the commercial space sector. The company’s valuation — now north of $1.75 trillion — dwarfs legacy aerospace contractors like Boeing and Lockheed Martin, and signals investor confidence in reusable rocket technology and satellite broadband. For retail investors, the IPO provides a rare opportunity to own a piece of a company that has dominated headlines for its Starship test flights, Starlink expansion, and Musk’s leadership. However, the company’s history of losses, combined with its heavy reliance on government contracts and regulatory approvals, means the stock carries significant risk. Analysts advise investors to monitor the company’s quarterly earnings, Starlink subscriber growth, and any updates on the Tesla merger speculation.

Conclusion

SpaceX’s IPO is a landmark event that reshapes the public markets and the space industry. The company’s debut on the Nasdaq was met with strong demand, pushing shares 19% higher on the first day. While the long-term trajectory remains uncertain — given the company’s losses, governance structure, and ambitious technology roadmap — the IPO provides SpaceX with access to public capital to fund its Starship program, Starlink expansion, and AI ventures. For investors and observers alike, the story is far from over.

FAQs

Q1: When did SpaceX start trading on the Nasdaq?
SpaceX shares began trading on the Nasdaq on Friday, June 12, 2026, under the ticker symbol SPX. The stock opened at $150 and closed at $160.95 on its first day.

Q2: How much money did SpaceX raise in its IPO?
SpaceX raised $75 billion by pricing 555.6 million shares at $135 each, making it the largest IPO in history.

Q3: Will Elon Musk become a trillionaire because of the IPO?
Yes. With his approximately 85.1% voting power and the post-IPO valuation, Musk’s paper wealth exceeds $1 trillion, making him the world’s first trillionaire. However, this is based on stock value and is subject to market fluctuations.

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