SpaceX is preparing to go public at a fixed price of $135 per share, targeting a $75 billion raise that would obliterate every previous IPO record by a wide margin. The listing, scheduled for June 2-3, 2026, on the Nasdaq, would value the company somewhere between $1.75 trillion and $1.77 trillion after the offering closes.
To put that fundraise in perspective, Saudi Aramco’s 2019 IPO pulled in roughly $25.6 billion, which was considered a generational event. SpaceX is aiming to nearly triple that number in a single offering.
A fixed price and a thin float
SpaceX announced a fixed share price of $135 rather than the traditional indicative range that bankers typically use to gauge demand before settling on final pricing. The company plans to sell approximately 555.6 million shares. But only about 4% of SpaceX’s total shares will actually trade publicly.
Traditional banking involvement has been kept to a minimum. SpaceX is leveraging recent rule changes at Nasdaq and other index providers that allow large IPOs to qualify for quicker inclusion in major benchmarks like the Nasdaq 100. That matters because index fund inclusion essentially forces trillions of dollars in passively managed money to buy shares, creating a built-in demand floor.
The road to listing
SpaceX had been quietly laying the groundwork since late 2025, filing confidentially with the SEC in April 2026 before making its S-1 registration statement public around May 20, 2026.
Roadshow activities kicked off shortly after the announcement, with final pricing anticipated for mid-June.
SpaceX merged with Elon Musk’s AI venture, xAI, earlier in 2026. Proceeds from the IPO are earmarked not just for SpaceX’s launch operations but also for funding AI initiatives under the combined entity.
What this means for investors
A $1.75 trillion post-IPO valuation puts SpaceX in rarefied air. The company would immediately become one of the most valuable publicly traded entities on the planet, and it’s doing so with only 4% of its shares available to trade.
Nasdaq’s updated rules were specifically designed to accommodate listings of this magnitude, allowing faster index inclusion than previous frameworks permitted.
By bypassing the traditional book-building process where underwriters collect bids from institutional investors and set a price range, SpaceX is reducing the influence of Wall Street banks over its listing.
A 4% float means volatility could be extreme in the early days of trading. And while SpaceX’s core business, launching rockets and operating the Starlink satellite internet constellation, has clear revenue potential, the xAI merger introduces uncertainty. In the AI space, xAI faces entrenched rivals like OpenAI, Google DeepMind, and Anthropic.