SpaceX plans to price its long-awaited initial public offering at $135 per share, a figure that would raise $75 billion through the sale of 555.6 million shares and value Elon Musk’s aerospace giant at roughly $1.75 trillion. The pricing, confirmed by sources close to the deal on June 3, positions the offering to shatter the global IPO record set by Saudi Aramco in 2019 and would make SpaceX one of the most valuable public companies on earth before it ever rings the opening bell.
The roadshow is expected to begin June 4, with shares slated to trade on Nasdaq under the ticker SPCX as early as June 12. Unlike many blockbuster listings that rely heavily on existing shareholders cashing out, this is an all-primary offering. Every dollar raised flows into the company, earmarked for AI computing expansion and the continued buildout of the Starlink satellite broadband network. Reuters first reported the pricing details.
The scale is difficult to overstate. At $1.75 trillion, SpaceX would command a valuation more than double Saudi Aramco’s $29.4 billion debut and would immediately rival the market capitalizations of the largest tech conglomerates. The transaction reflects the company’s deliberate transformation from a rocket launcher into a vertically integrated tech infrastructure play, a shift accelerated by its merger with xAI earlier this year. Wall Street is no longer pricing a launch vehicle manufacturer; it is pricing a constellation owner, an AI compute provider, and a telecom operator wrapped into one.
Retail investors could access up to 30% of the offering, an unusually high allocation for a deal of this magnitude. Musk himself is reportedly bound by a one-year lockup agreement, a move designed to dampen volatility and signal long-term commitment to prospective institutional buyers. Ynetnews outlined the lockup and retail terms.
Market chatter on X, formerly Twitter, turned feverish within hours of the news breaking. Traders and analysts shared the Reuters figures widely, with many noting that SpaceX’s projected valuation places it within reach of Nvidia’s market cap, a comparison that underscores how investors now view satellite networks and AI compute as peers to semiconductor dominance. Some posts speculated that the ticker SPCX could trigger a retail frenzy not seen since the meme-stock era, though the institutional backbone of this deal is far stronger.
The timing places SpaceX at the center of a broader capital rotation. Some market participants have speculated that a wave of mega-raises, including this $75 billion injection, could temporarily pressure liquid alternative assets like Bitcoin as institutional capital reallocates toward conventional equity. Whether that materializes remains to be seen, but the demand for SPCX is expected to be extraordinary. Fund managers who have spent years trying to gain exposure through secondary tenders and private transactions now have a direct line, and many will treat the IPO as a must-own position.
SpaceX’s decision to keep the offering primary rather than secondary also tells a story. The company is not facilitating an exit for early backers; it is raising a war chest. The funds will likely accelerate Starship development, expand Starlink’s direct-to-cell capabilities, and bankroll the compute clusters needed to train next-generation AI models. In that sense, the IPO is less a graduation ceremony and more a fueling stop for a business that still burns billions in pursuit of Mars and market share.
The tech hardware sector has seen its own pricing turbulence this week. Samsung is reportedly preparing to raise prices on its flagship smartphones, while OnePlus is taking the opposite tack with aggressive discounts on its Pad 4. Neither move carries the market-moving weight of a trillion-dollar debut, but together they illustrate a tech landscape where capital is chasing scale across wildly different segments, from consumer handhelds to orbital infrastructure.
Wall Street has spent years debating when, not if, SpaceX would go public. The answer is now concrete: $135 a share, 555.6 million shares, and a target that rewrites the record books. If the order books fill as expected, Nasdaq will host the largest IPO in history before mid-June. For Musk, it is another high-stakes launch. For the market, it is a test of whether investors will treat a rocket company with satellite and AI ambitions as the next great tech giant, or as an aerospace outlier that flew too close to the sun. CNA confirmed the pricing and timeline.
