SpaceX prices IPO at $135 per share on June 11 — $1.77T valuation, $75B raise will be the largest IPO in history, xAI baked into the consolidated entity
SpaceX set its IPO price at $135 per share ahead of June 11 pricing, with NASDAQ listing under SPCX scheduled for June 12. The 555.6-million-share offering implies a $1.75-1.77 trillion valuation and raises approximately $75 billion — the largest IPO in market history. The consolidated entity includes Starlink (profitable), Falcon 9/Starship (operations), and xAI (burning $10B/year, $80B implied value in the February merger).
The headline mechanics put SpaceX on track to absorb more capital in a single offering than the entire 2026 IPO calendar combined for the next-biggest cohort. Goldman Sachs has projected $160B in total 2026 IPO proceeds; SpaceX alone is targeting $75B of that. The retail allocation — 30% via Robinhood, Fidelity, and Schwab — gives the market its first direct retail access to a Musk-controlled entity at scale, after years of secondary-market-only exposure.
The xAI piece is the interesting accounting. The February SpaceX-xAI merger valued xAI at roughly $80B inside a $1.25T combined entity; Morningstar's fair-value estimate now sits at $780B (less than half the IPO target), citing xAI's $10B/year burn against Starlink's $3.26B Q1 connectivity revenue as the only currently profitable segment. The IPO price effectively requires public buyers to underwrite xAI's frontier-lab ambitions on top of Starlink's connectivity cash flow. OpenAI's own IPO signaling this week puts three trillion-dollar-class AI listings into the same 12-month window.
CNBC — SpaceX targets $135 IPO price at valuation of $1.77 trillion → · WEEX — SpaceX IPO Prediction 2026: $135 Price, $1.75T Valuation, SPCX Trading → · TradingKey — SpaceX Prices Tomorrow at $135 for the Largest IPO in History — S-1 Financials →