Elon Musk’s SpaceX is set to make history with what is expected to be the largest initial public offering ever recorded, as the aerospace and technology giant prepares to begin trading on the Nasdaq exchange.
The company priced more than 555 million shares at $135 each, giving it a market valuation of nearly $1.8 trillion. The offering is expected to raise more than $75 billion, surpassing the previous IPO record of $29.4 billion set by Saudi Aramco in 2019. If additional share options are fully exercised, the total could exceed $86 billion.
Founded by Elon Musk in 2002, SpaceX has evolved from a rocket manufacturer into a vast technology conglomerate encompassing satellite internet service Starlink and xAI, Musk’s artificial intelligence company, which also owns the social media platform X. The company will trade under the ticker symbol “SPCX”.
Investor demand has been exceptionally strong, with reports indicating the offering was more than four times oversubscribed. Retail investors were also allotted 20 per cent of the available shares.
Despite generating $18.7 billion in revenue in 2025, SpaceX recorded a net loss of $4.9 billion, largely due to heavy investment in artificial intelligence infrastructure. Nevertheless, investors continue to back Musk’s long-term ambitions, including expanding Starlink, advancing AI technologies and pursuing plans for human settlement on Mars.
The listing could further cement Musk’s position as the world’s richest person, with analysts suggesting a successful debut may bring him closer to becoming the first individual with a trillion-dollar fortune.