SpaceX Set to Make History With Largest IPO Ever at $1.77 Trillion Valuation

SpaceX, the rocket and satellite company founded by Elon Musk, is days away from what will be the largest initial public offering in history. The company has filed to sell 555.6 million Class A shares at a fixed price of $135 each on the Nasdaq exchange, targeting a listing date of June 12, 2026. At that price, SpaceX would carry a valuation of approximately $1.77 trillion — making it the seventh-largest company in the United States on arrival.

The Numbers

The IPO would raise approximately $75 billion, shattering Saudi Aramco's 2019 record of $29 billion. Goldman Sachs is leading a consortium of 21 banks managing the offering. In an unusual move, SpaceX plans to allocate up to 30 percent of shares to retail investors — roughly three times the standard 5 to 10 percent reserved in typical mega-cap offerings.

What Makes SpaceX Worth $1.77 Trillion

Two businesses drive SpaceX's extraordinary valuation. The first is its launch division, which has effectively monopolized the commercial and government space launch market through its reusable Falcon 9 and Starship rockets. The second — and the primary revenue engine — is Starlink, the satellite internet service that accounted for an estimated 58 percent of SpaceX's total revenue in 2024. Starlink now serves millions of subscribers across more than 60 countries and has become critical infrastructure for both consumer internet access and military communications.

The Risks

Despite the historic scale, the offering comes with significant risks. SpaceX reported a net loss of $4.28 billion in the first quarter of 2026 alone, with an accumulated deficit of $41.3 billion. The company's AI infrastructure investments are burning approximately $2.5 billion per quarter. And Elon Musk retains 42 percent equity and 85 percent of voting power, giving him near-total control of corporate decisions regardless of public shareholder sentiment.

What It Means

The SpaceX IPO marks the beginning of what analysts expect to be a landmark year for public offerings, with AI companies including Anthropic and OpenAI also reportedly laying groundwork for potential listings. For retail investors, the unusually large allocation offers rare early access to a company that has reshaped the economics of space — but at a price that demands faith in a future that SpaceX has not yet fully built.