$135 a share gave SpaceX a $75 billion IPO haul and a roughly $1.77 trillion starting valuation, making the June listing the largest public offering on record.
19% first-day jump briefly pushed SpaceX above a $2 trillion market cap, but the stock has since slid and was down another 6%, trading just above its all-time low amid valuation and spending concerns.
OpenAI and Anthropic have both confidentially filed for U.S. IPOs, with Reuters saying OpenAI may wait until 2027 as it seeks up to a $1 trillion valuation.
Anthropic, valued near $965 billion and backed by Amazon and Alphabet, is seen as more likely to reach public markets first because private funding has reduced pressure to raise capital quickly.
SpaceX's path—scaling privately with heavy outside funding before listing—is now being treated as a template for mature AI companies entering public markets.
With analysts valuing SpaceX far below its IPO price, can Starlink's profits alone justify the company's trillion-dollar Mars and AI bets?
As AI giants copy the 'SpaceX Playbook,' are public markets becoming a high-risk exit for private investors instead of a growth opportunity?
With Musk holding 85% voting power post-IPO, are investors just buying a stock or funding a private kingdom with public money?
SpaceX’s Record $75 Billion IPO: How Musk’s Empire Is Reshaping Markets, AI, and Investor Risks
Overview
SpaceX made a historic public debut on June 12, 2026, listing on both the Nasdaq Global Select Market and Nasdaq Texas under the ticker SPCX. The IPO was set at $135 per share, but the stock opened above $150, marking an 11% jump and signaling strong investor excitement. This robust market reaction was fueled by SpaceX’s evolution from a space launch company to a diversified tech leader, now expanding into AI and cloud computing. The debut attracted extraordinary trading interest, highlighting confidence in SpaceX’s ambitious growth plans and Elon Musk’s leadership, while also raising questions about valuation and governance.