Shares of SpaceX were indicated at around US$169 on Friday ahead of their market debut, after the company completed what is widely described as the largest initial public offering in history.
The reusable rocket company will begin trading under the ticker SPCX, marking a major milestone for a firm that has transformed commercial spaceflight and satellite communications over the past two decades.
The IPO was priced at $135 per share, with SpaceX raising about US$75 billion through the sale of 555.6 million shares, according to its Securities and Exchange Commission filing. That pricing valued the company at approximately $1.77 trillion, placing it among the world’s most valuable corporations.
The indicated opening price of $169 suggests strong early demand from investors ahead of the official trading session.
Elon Musk and SpaceX president and chief operating officer Gwynne Shotwell participated in the ceremonial opening bell event, with Musk joining remotely from Texas and Shotwell attending in person at the Nasdaq MarketSite in New York.
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Musk said in a pre-IPO JPMorgan livestream that SpaceX has been cash-flow positive since around 2015 and is now entering a new phase of expansion that requires significant capital.
He pointed to ambitious long-term plans including deploying more than 100,000 satellites to expand global communications coverage and developing artificial intelligence infrastructure in space.
SpaceX’s business model has evolved significantly since its founding in 2002. While it began as a reusable rocket launch company, its most profitable division today is Starlink, its satellite internet service.
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The company has also expanded into artificial intelligence and digital platforms. In February 2026, SpaceX acquired Musk’s AI startup xAI, bringing in its data centres, Grok AI models, and related digital assets, including the X social media platform (formerly Twitter).
Despite its rapid growth, SpaceX disclosed in its prospectus that it has accumulated a total deficit of $41.3 billion since inception, reflecting years of heavy investment in space infrastructure.
The company also highlighted a projected total addressable market of $28.5 trillion, driven largely by future AI-enabled applications, autonomous systems and global connectivity demand.
Gwynne Shotwell said the estimate reflects a future in which billions of devices — including autonomous vehicles, humanoid robots and connected systems — will require constant communication and cloud connectivity.
SpaceX’s IPO comes as investor enthusiasm for space, AI and advanced technology companies continues to drive record valuations across high-growth sectors, even as concerns persist over profitability timelines and execution risks.
Market participants will closely watch early trading to gauge appetite for one of the most high-profile public listings in recent years.
