SpaceX priced its initial public offering at $135 a share on 11 June, selling 555.56 million shares and raising $75 billion, the largest IPO in US history. The shares started trading on Nasdaq under the ticker SPCX on 12 June and opened at $150.
From private giant to listed company
For years SpaceX was the company everyone talked about and almost nobody could buy. That changed this morning. At the offer price, Axios put the valuation at approximately $1.77 trillion. Elon Musk sold none of his own shares in the offering, so his stake goes into public life untouched.
The first trade came in at $150, about 11% above the $135 offer price. Opening prices tell you about demand in the first minutes of trading, not where a stock will settle, so I read today’s jump as a sign of appetite rather than a verdict on the business.
What caught my attention is how fast the headline valuation has moved. In February, when SpaceX agreed to acquire xAI, Reuters reported that SpaceX was valued at $1 trillion and xAI at $250 billion, a combined $1.25 trillion. CNBC called that “the biggest merger of all time”. Four months later, the IPO price puts the same group at roughly $1.77 trillion.
By the numbers
| Item | Figure | Source |
|---|---|---|
| IPO price per share | $135 | Axios |
| Money raised | $75 billion | Axios |
| Shares sold | 555.56 million | Axios |
| Valuation at the IPO price | about $1.77 trillion | Axios |
| Opening price on 12 June | $150 | Forbes |
| Combined value in the xAI deal, February 2026 | $1.25 trillion | Reuters, CNBC |
Why it matters
A quick note before anything else: this is a news report. TechKahwa does not give investment advice, and nothing here is a suggestion to buy, sell or hold SPCX or any other stock.
With that said, three things make this listing worth understanding even if you never look at a share price.
The size. Raising $75 billion in a single offering makes this the largest US IPO on record. When one company absorbs that much fresh capital at once, it tells you how much money is chasing the combination of space and AI right now.
What the share actually contains. Since February, SpaceX is not only a launch and satellite company. xAI, the developer of Grok, is part of the group. Reuters reported at the time that SpaceX brings in annual revenue of $15 to 16 billion with profit of about $8 billion, while xAI posted a $1.46 billion net loss on $107 million of revenue in a recent quarter. In other words, one ticker now holds a profitable rocket business and a very expensive AI project. Anyone reading SpaceX headlines from here on should keep both halves in mind.
The regional thread. This one is genuinely relevant to readers in the Gulf. Last November, Saudi Arabia’s HUMAIN and NVIDIA announced a flagship data centre of more than 500 MW with xAI as its first customer. That customer is now part of a company traded on Nasdaq. The fortunes of one of the region’s biggest AI infrastructure projects and a newly listed American company are linked more directly than they were a year ago.
My own view: the IPO is less about rockets than about how public markets price the idea of one company owning launch, satellite internet and a frontier AI lab together. Today’s opening is the first real answer to that question, and it will not be the last.
What to watch
- How SpaceX reports its business as a listed company, and whether it separates xAI’s figures from launch and Starlink.
- Starship. The first V3 flight on 22 May reached space and made its planned splashdown in the Indian Ocean, but the Super Heavy booster was lost in the Gulf of Mexico. Every flight will now be watched by shareholders as well as space fans.
- xAI’s role in HUMAIN’s Saudi data centre, the part of this story closest to our region.
Sources
- Axios, report on the SpaceX IPO pricing at $135 a share and $75 billion raised, 11 June 2026, https://www.axios.com/2026/06/11/spacex-ipo-prices-75-billion
- Forbes, live updates on SpaceX’s first day of trading, 12 June 2026, https://www.forbes.com/sites/tylerroush/2026/06/12/spacex-opens-at-150-surging-17-after-largest-ipo-ever-live-updates/
- Reuters via Yahoo Finance, factbox on SpaceX acquiring xAI, 3 February 2026, https://finance.yahoo.com/news/factbox-spacex-acquires-xai-key-142912748.html
- CNBC, report on the SpaceX and xAI merger, 3 February 2026, https://www.cnbc.com/2026/02/03/musk-xai-spacex-biggest-merger-ever.html
- HUMAIN release via PR Newswire, expanded partnership with NVIDIA, xAI and AWS, 19 November 2025, https://www.prnewswire.com/news-releases/humain-expands-strategic-partnership-with-nvidia-advancing-global-ai-infrastructure-with-xai-global-ai-and-aws-at-the-us-saudi-investment-forum-302620854.html
- Space.com, live coverage of Starship flight 12, 22 May 2026, https://www.space.com/news/live/spacex-starship-flight-12-launch-updates-may-22-2026