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watch nowVIDEO01:45SpaceX allocations mostly decided, only 20% of IPO allocated to retailClosing Bell
SpaceX begins trading Friday under the ticker SPCX after the biggest initial public offering ever.
Elon Musk’s reusable rocket company said in a filing with the Securities and Exchange Commission late Thursday that it’s raising $75 billion, selling 555.6 million shares for $135 a piece. The deal values SpaceX at $1.77 trillion, making it the seventh most-valuable U.S. company, ahead of Tesla, Musk’s electric vehicle maker.
Musk said on a JPMorgan Chase livestream before the IPO that SpaceX had been cash-flow positive since around 2015. He said he wanted to take SpaceX public now to raise capital for “a significant growth phase,” with plans to put over 100,000 satellites in orbit for communications, and to build artificial intelligence data centers in space, among other initiatives.
Musk, who’s poised to be the world’s first trillionaire based on his combined stakes in SpaceX and Tesla, started the company as a reusable rocket maker, but the only profitable part of the business today is the Starlink satellite internet division.
SpaceX acquired Musk’s startup, xAI, in February 2026. That brought with it the company’s data centers, Grok AI models and an embattled AI chatbot and image generator of the same name, as well as the social network X, formerly known as Twitter.
According to the its prospectus, SpaceX has accumulated a total deficit of $41.3 billion since it was founded in 2002.
CNBC’s reporters are covering Elon Musk’s SpaceX IPO live on air and online from our bureaus in London, Singapore, San Francisco, and Englewood Cliffs, New Jersey, and from the Nasdaq in New York City.
9 Min Ago
SpaceX IPO is Gwynne Shotwell’s ‘unveiling’
SpaceX President and CEO Gwynne Shotwell sits down with CNBC’s Morgan Brennan to talk about the company’s IPO.CNBC
Jennifer Nason, former global chair, investment banking at JP Morgan, told CNBC’s “Morning Call” that the SpaceX IPO is “a bit of an unveiling” for Gwynne Shotwell.
“Elon can take a lot of the oxygen out of the room, but she’s been there from the beginning,” Nason said.
—Chris Eudaily
23 Min Ago
COO Gwynne Shotwell had her doubts about an IPO
watch nowVIDEO00:55SpaceX President Gwynne Shotwell on the company’s speed of innovationNews Videos
SpaceX President and COO Gwynne Shotwell told CNBC’s Morgan Brennan that she “wasn’t sure we would go public.”
“Today, across SpaceX’s various businesses, the building blocks of a publicly traded company are now in place,” she said in an exclusive interview.
Shotwell is the company’s top executive underneath Musk.
“I do not want to focus on quarterly earnings,” she told Brennan. “I’m not saying we’re not going to do right by our investors, but what folks who invest in SpaceX need to know is that what we’re doing is very futuristic.”
—Chris Eudaily
32 Min Ago
How many shares are being sold and what is the market cap
SpaceX is offering 555,555,555 shares of Class A common stock in the IPO. At the $135 per share set price, the offering raised $75 billion.
There is an overallotment of 83,333,333 Class A shares available to underwriters for up to 30 days after the June 3 S-1A.
Without the overallotment, there are 13,075,865,175 Class A and B shares available immediately, which puts the SpaceX market cap at $1.77 billion.
Should the overallotment be exercised, those would add to the total Class A and B shares and increase the market cap accordingly.
—Chris Eudaily
41 Min Ago
SpaceX buzz builds on WallStreetBets
SpaceX Starship lifts off from Starbase in Boca Chica, Texas, for its sixth flight test on November 19, 2024. Chandan Khanna | Afp | Getty Images
SpaceX has been a hot topic on Reddit’s WallStreetBets, the discussion forum that became synonymous with the meme stock craze.
The rocket startup has been mentioned more than 1,600 times on the platform since Monday, according to data shared with CNBC by meme stock tracker Breakout Point. Those numbers have made it one of the most-discussed companies on WallStreetBets in the days leading up to the IPO, Breakout Point’s data shows.
—Alex Harring
41 Min Ago
SpaceX spends more than it makes, even with Starlink as its cash cow
According to IPO filings, the company has racked up a deficit of around $41.3 billion since it was founded in 2002.
It has already spent more than $15 billion to develop its massive, Starship rocket, which it intends to be fully re-usable in the future. Starship is also meant to bring NASA astronauts back to the surface of the moon, and eventually to Mars.
SpaceX said in its prospectus that its connectivity unit, primarily comprised of Starlink, generated $11.39 billion in 2025, accounting for 61% of total sales. In the first quarter of this year, it climbed to 69% of total sales.
The company cautioned investors in its prospectus about its history of net losses, and that it may not achieve profitability in the future. It lost $4.9 billion last year, and $4.28 billion in the first quarter of 2026, alone with both capital and operating expenses expected to increase as it spends heavily on Starship and AI initiatives.
—Lora Kolodny
41 Min Ago
What SpaceX will use the funding for
A SpaceX Starship spacecraft rolls out toward its launch pad past the Starbase Manufacturing Facility before its 10th test flight from the company’s complex in Starbase, Texas, U.S., August 23, 2025. Steve Nesius | Reuters
The capital raised in the IPO is expected to fund the further development of SpaceX’s massive Starship rockets, which are currently in a test flight phase and are not yet fully re-usable.
The company will also use the funding for future AI products and infrastructure, including a chip factory known as Terafab that SpaceX will build with Tesla and Intel in Texas.
—Lora Kolodny
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