SpaceX seals record $75bn IPO

June 12, 2026 (MLN): SpaceX is set to complete the largest initial public offering in history, raises $75 billion through the sale of 555.6 million shares priced at $135 a share.

The Elon Musk-led space and satellite company will list on the Nasdaq on Friday, with the offering placing its valuation at $1.77 trillion, according to a filing with the US Securities and Exchange Commission, CNBC  reported.

It is now the seventh among the most valuable US companies and ahead of Musk's own electric vehicle firm Tesla.

The fixed price was set last week in a departure from conventional IPO practice, where issuers typically offer a price band to test investor appetite.

SpaceX opted for a take-it-or-leave-it structure following a series of pre-roadshow investor meetings.

Goldman Sachs is leading the offering, with Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase acting as joint bookrunners.

SpaceX reported revenue of $4.69 billion in the first quarter of 2026, up 15% year-on-year from $4.07 billion, while full-year 2025 revenue rose 33% to $18.67 billion.

The company posted a net loss of $4.28 billion in the latest quarter, following a $4.94 billion loss in 2025, with a cumulative deficit since its 2002 founding of approximately $41.3 billion.

Capital expenditure surged to $10.1 billion in the first quarter, more than double the year-earlier figure, with $7.7 billion directed toward artificial intelligence infrastructure.

SpaceX's primary revenue engine is Starlink, its satellite internet service and only profitable division.

The company also absorbed AI firm xAI through a merger completed in February.

At the offering price, Musk's SpaceX stake is valued at $866.5 billion.

Combined with Tesla holdings of roughly $320 billion, the listing could make him the world's first trillionaire.

He retains over 82% of voting power at SpaceX.

The deal is approximately three times the size of the previous record US IPO.

It may not hold that distinction for long AI firms Anthropic and OpenAI, each valued near $1 trillion in private markets, have both confidentially filed for public listings and could debut before year-end.

OpenAI has submitted a confidential S-1 filing to the US Securities and Exchange Commission, taking the first formal step toward an initial public offering.

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