SpaceX Sets $135 IPO Price at $1.77T Valuation

SpaceX has set its IPO price at $135 per share, putting Elon Musk’s rocket and satellite company on track for one of the largest public listings ever.

At that price, SpaceX would raise about $75 billion by selling 555.6 million shares and reach a valuation near $1.77 trillion. The company is expected to list on Nasdaq under the ticker SPCX.

According to CNBC’s report on the updated filing, the offering would make SpaceX one of the most valuable public companies in the US if shares trade near the proposed price. MarketWatch reported that proceeds could rise to $85.7 billion if underwriters exercise their option to buy additional shares.

SpaceX heads toward a record listing

The planned offering would far exceed the current IPO record set by Saudi Aramco in 2019. Business Insider reported that Aramco raised $29 billion in that listing, less than half of SpaceX’s base offering.

The filing puts a fresh market price on a company built around rockets, satellites, broadband connectivity, and AI infrastructure. SpaceX’s launch business remains central to its identity, while Starlink provides the company with a recurring revenue stream that investors can more easily compare with those of other large technology and communications companies.

The earlier filing laid out Starlink, Starship, AI spending, and Musk’s voting control as major parts of the public-company story. The new $135 price gives investors a clearer benchmark for how much those businesses and plans are expected to be worth when trading begins.

Valuation depends on future growth

The valuation reflects more than SpaceX’s current rocket and satellite operations. It also includes expectations for Starship, broader Starlink services, and AI infrastructure tied to the company’s long-term plans.

That makes the number difficult to compare with a mature public company. Business Insider reported that Morningstar estimates SpaceX’s fair value at $780 billion, well below the valuation implied by the IPO price. Morningstar pointed to Starlink as the company’s main medium-term profit driver, while treating future orbital computing revenue as more uncertain.

SpaceX has also disclosed practical constraints around its AI data center buildout, including water access. Those infrastructure demands are part of the larger question around how quickly SpaceX can turn future AI plans into revenue.

Public investors will also be buying into a controlled company. Business Insider reported that Musk would retain about 82% of voting power after the offering, leaving major strategic decisions under his control.

That structure could become more important if SpaceX continues pursuing mergers with Musk companies or shifts more capital toward AI infrastructure.

For investors, the IPO is not only a bet on rockets and Starlink. It is also a bet that SpaceX can convert its broader technological ambitions into businesses large enough to support one of the highest valuations in the US market.

Also read: Blue Origin’s New Glenn rocket exploded during a Florida ground test, leaving the company to assess launch-site damage and the cause of the fireball.