AMP Article

SpaceX IPO makes history as largest ever. Stock gains 19% on first day

Published June 13, 2026 · Updated June 13, 2026 · By Patricia Martin

SpaceX's Starship 39 rocket launches from Starbase during the 12th test flight as seen from South Padre Island, Texas, on May 22, 2026. Elon Musk's SpaceX on May 22 launched its latest Starship, sending the mammoth rocket soaring into the Texas skies after its initial attempt was scrubbed due to technical issues. The Starship spacecraft and Super Heavy rocket booster appeared to separate as expected, but the company's spokesperson Dan Huot said on the livestream that the booster did not complete a burn necessary to steer itself to a controlled landing, meaning it likely can't make a precision touchdown as hoped. (Photo by RONALDO SCHEMIDT / AFP via Getty Images)

SpaceX's Historic IPO Marks a New Era in Space and Tech Markets

SpaceX IPO makes history as largest - On Friday, the stock of SpaceX, now publicly traded on the Nasdaq under the ticker SPCX, experienced a remarkable surge, closing at $160.95. This came after the company executed what is being called the largest initial public offering in history, with shares rallying 19% during their first day of trading. The event not only solidified SpaceX’s place among the world’s most valuable corporations but also placed Elon Musk at the helm of a new era of space exploration and technological innovation.

The unprecedented fundraising effort, which totaled nearly $75 billion, saw SpaceX sell over 555 million shares at an initial price of $135. This milestone shattered previous records and redefined the scale of tech industry capital raises. The company’s valuation surpassed $2 trillion on its debut, marking a significant leap in investor confidence and market perception of its long-term potential. Such a valuation, however, has sparked debate about the sustainability of its financial model.

As the stock market opened, SpaceX’s achievements extended beyond the financial realm. Around an hour earlier, a Falcon 9 rocket launched from Florida’s Cape Canaveral, completing the 650th flight of the model. This mission successfully deployed Starlink broadband satellites into orbit, underscoring the company’s dual focus on space infrastructure and commercial applications. The timing of the launch and the IPO highlighted the synergy between SpaceX’s technological prowess and its ambitions to dominate the global space economy.

Musk's Vision and the IPO's Symbolism

Elon Musk, the company’s chief executive officer and chairman, was present at Starbase, Texas, during the IPO’s opening. He stood behind a Nasdaq-branded podium, with several SpaceX executives, including President Gwynne Shotwell and Chief Financial Officer Bret Johnsen, ringing the opening bell in New York. The ceremony symbolized the culmination of years of effort to transform SpaceX from a private venture into a publicly traded giant.

"Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond," Musk stated, emphasizing the company’s transformative vision. He added that it was hard to believe SpaceX had achieved the largest IPO ever, a feat that represents both a technological and financial milestone.

Reflecting on the company’s early challenges, Musk noted, "I gave SpaceX less than a 10% chance of succeeding at all, to be clear. In fact, I told people this: 'Look, we're probably going to fail, but you know we should give it a try because if we don't, if there's not a new company that enters space, we will never be a truly space-faring civilization.'" These words, delivered during the IPO’s celebration, encapsulate the bold optimism that has driven SpaceX’s mission since its inception.

Strategic Expansion and AI Ambitions

SpaceX’s plans for the funds raised through the IPO include expanding its flagship rocket and satellite communications businesses. The company is also pivoting heavily toward artificial intelligence, a move that reflects the growing importance of AI in space exploration and Earth-based operations. This pivot has already begun with the acquisition of Musk’s AI startup xAI earlier this year.

The company’s vision for AI extends beyond Earth. SpaceX aims to develop orbital data centers, positioning itself at the forefront of space-based computing. These facilities, dubbed "orbital AI compute infrastructure," would enable real-time processing of vast datasets from satellites, enhancing capabilities for scientific research, global communication, and even autonomous spacecraft navigation.

Despite its lofty goals, SpaceX has yet to achieve profitability. Its IPO prospectus revealed a net loss of $4.3 billion in the first quarter of this year, raising questions about the company’s financial viability. Critics argue that its $2 trillion valuation may be overinflated, with some analysts using traditional models like discounted cash flow to estimate its worth at just $780 billion.

Challenges and Governance Concerns

Morningstar analysts Nicolas Owens and Suryansh Sharma have highlighted the risks associated with SpaceX’s business model and governance structure. They pointed out that the company’s strategic execution, technological advancements, and market dynamics remain uncertain. Additionally, the concentration of power in Musk’s hands—holding approximately 85% of shareholder voting rights—adds complexity to its leadership.

"The introduction of such a new technology comes with a lot of kind of frothy valuation and hype," said Songyee Yoon, managing partner at Principal Venture Partners, a venture capital firm specializing in AI. She cautioned that while the IPO marks a significant step, it is still early to determine which AI-driven companies will achieve lasting commercial success. The valuation of SpaceX, like others in the space and AI sectors, hinges on future growth and the ability to monetize cutting-edge innovations.

Analysts view SpaceX’s IPO as the first of three major tests for investor appetite toward AI-related ventures. OpenAI, which develops the ChatGPT platform, and Anthropic, the creator of the Claude AI models, have also filed documents with the Securities and Exchange Commission, signaling their intent to go public. If these companies follow through with their plans, the market could witness a wave of AI-focused listings this fall.

However, the path to profitability remains uncertain. All three companies—SpaceX, OpenAI, and Anthropic—have been burning cash to refine their AI technologies and support user adoption. While the field is expanding rapidly, the ability to generate consistent returns will be the ultimate measure of their success. For now, the IPO of SpaceX serves as a testament to the transformative power of innovation, even as it invites scrutiny of its financial and strategic foundations.

SpaceX’s journey from a privately funded endeavor to a publicly traded juggernaut reflects a broader trend in the tech industry. The company’s meteoric rise has not only redefined space exploration but also set a new benchmark for how ambitious ventures can attract global investment. Yet, as the market watches, the challenge will be to balance visionary goals with pragmatic financial planning. The IPO’s success may pave the way for a new era of space and AI, but its long-term impact will depend on the company’s ability to deliver on its promises and navigate the complexities of its evolving landscape.