Space Exploration Technologies Corp. Class A Common StockIPO priced at $135, stock rose 19% on opening day, valuation $1.77 trillion.

SpaceX priced its initial public offering at $135 a share, giving the company a valuation of nearly $1.77 trillion in the largest IPO in history. The stock climbed 19% on its opening day, and many retail investors received allocations at the IPO price. The initial float was just over 4%, which could support near-term performance, but a series of 15 lockup expirations throughout 2026 and 2027 will release shares, with the first expirations expected in July and August. SpaceX operates three segments: a space launch business that generated $4.1 billion in revenue last year with an operating loss of $657 million, the profitable Starlink satellite internet business with $11.4 billion in revenue and $4.4 billion in operating income, and an artificial intelligence segment acquired through its merger with xAI that produced $3.2 billion in 2025 revenue and a $6.4 billion loss. The company plans to build solar-powered AI data centers in space, though significant technical challenges remain, and Elon Musk has forecast $1 trillion in annual revenue by 2030, a target viewed as highly speculative.
Space Exploration Technologies Corp. Class A Common StockIPO priced at $135, stock rose 19% on opening day, valuation $1.77 trillion.