SpaceX, which provides reusable rockets for space travel, global satellite internet, and AI models, announced terms for its IPO on Wednesday.
The Starbase, TX-based company plans to raise $75.0 billion by offering 555.6 million shares at $135 per share. At the proposed price, SpaceX would command a fully diluted market value of approximately $1.7 trillion (excludes 1.3 billion restricted Class B shares granted to Elon Musk that are not vested).
Unlike most IPOs, SpaceX did not file a proposed price range, but instead set a single proposed price. That fact and the short roadshow may indicate that the company has lined up significant commitments from public investors.
Press reports have indicated that the company plans to set aside as much as 30% of the offer shares to retail investors. Today's SEC filing did not confirm that amount, only that certain shares would be offered to retail investors through Schwab, Fidelity, Robinhood, SoFi, and E*TRADE.
SpaceX's proposed $75 billion offer size would make it the largest global IPO of all time, by far. The current record holder, Saudi Aramco, raised $25.6 billion in its Saudi Arabian listing in 2019, while the largest US IPO to date, Alibaba, raised $21.8 billion on the NYSE in 2014. SpaceX alone aims to raise more capital than every IPO from 2025 and 2024 combined. News reports suggest that two other mega-IPOs, OpenAI and Anthropic, are expected to complete IPOs in the fall.
SpaceX is an aerospace manufacturer and space transportation company that designs, manufactures, and operates rockets, spacecraft, and satellite systems. The company's Falcon rocket family has accounted for more than 80% of mass launched to orbit globally each year since 2023, with a mission success rate above 99%. SpaceX also operates Starlink, a low-Earth orbit broadband network of approximately 9,600 satellites providing high-speed internet connectivity to consumer, enterprise, and government customers worldwide. Beyond launch services, the company is developing capabilities in lunar and interplanetary exploration, as well as AI and energy infrastructure, with a long-term focus on human expansion beyond Earth. Its AI business includes the chatbot Grok, its COLOSSUS data centers, and the social media platform X.
SpaceX is led by Elon Musk, its founder, CEO, Chief Technical Officer, and Chairman. Musk is also the CEO of Tesla (TSLA), The Boring Company, and Neuralink. Musk will control the company through supervoting Class B shares.
SpaceX was founded in 2002 and booked $19.3 billion in revenue for the 12 months ended March 31, 2026. The company is on file with the SEC as Space Exploration Technologies Corp. It plans to list on the Nasdaq under the symbol SPCX. Goldman Sachs, Morgan Stanley, BofA Securities, Citi, J.P. Morgan, Barclays, Deutsche Bank, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, Allen & Company, Cantor Fitzgerald, Needham & Co., Raymond James, Societe Generale, Stifel, and William Blair are the joint bookrunners on the deal. It is expected to price the week of June 8, 2026.
