SpaceX Conducts Largest IPO in History: Shares Surge 19%

SpaceX, renowned for its reusable rockets and Starlink satellite network, conducted the largest initial public offering (IPO) in history. The sale of 555.6 million shares at $135 each raised $75 billion, setting an unprecedented record for such transactions. Trading on Nasdaq began with an 11% gain, and by the close of the day, shares surged 19% to $160.95.

Elon Musk, SpaceX’s founder and CEO, emerged as the primary beneficiary of the IPO. His 85.1% stake in voting shares grants him near-total control over the company. Analysts estimate Musk’s net worth now exceeds $1 trillion, positioning him as the first potential trillionaire globally. In a post on platform X*, he expressed gratitude to employees for their contributions to the milestone.

SpaceX’s financial performance remains mixed. In 2025, the company reported a $4.9 billion net loss despite $18 billion in revenue. Cumulative losses since inception exceed $37 billion. The S-1 filing also highlights risks of share dilution and uncertainty surrounding the Starship project, critical to the company’s future. Nonetheless, investor enthusiasm was overwhelming, with underwriters like Goldman Sachs and Morgan Stanley earning approximately $500 million in fees.

Beyond financials, the IPO spotlighted SpaceX’s strategic partnerships. Anthropic secured a $1.25 billion monthly lease for computing power from xAI, while Google signed a $920 million monthly deal to support AI products. These agreements underscore SpaceX’s pivotal role in advancing artificial intelligence technologies.