SpaceX is set to offer shares to the public for the first time today. Shares will be listed on the NASDAQ under the ticker SPCX, in what is expected to be the largest initial public offering in stock market history. The company priced 555,555,555 shares of Class A common stock at $135 each, raising $75 billion. That tops the previous record set by Saudi Aramco’s 2019 offering at $29 billion. The offering is expected to close on June 15.

The $135 price implies a valuation near $1.75 trillion, which would make SpaceX roughly the seventh-largest company in the United States, just above Tesla’s current market cap. Underwriters also received a 30-day option to purchase up to an additional 83.3 million shares at the IPO price. There is no set time for trading to open, as companies often wait until after the market bell. When the shares do hit the floor, they are expected to go quickly.

The valuation rests heavily on Starlink. The satellite internet service crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million users per month, with the connectivity segment posting a $1.19 billion profit last quarter. Starlink generated $11.387 billion in revenue in 2025 and $4.423 billion in operating profit, with an adjusted EBITDA margin of 63 percent, and is the only part of the business turning a profit. The xAI division, folded in through an all-stock merger earlier this year, posted a $6.36 billion operating loss in 2025.

The Space Coast Will Have New Millionaires By Nightfall

Several SpaceX employees on the Space Coast will almost certainly become new-minted millionaires when SpaceX begins trading, though exactly how many is not publicly known. Years of stock options and restricted shares granted at far lower valuations turned to substantial gains the moment the stock priced at $135, and in time, those employees will be able to convert their shares into spendable cash.

Those gains come with a catch. Most employee shares are subject to a lockup period after the listing, typically several months, during which staff cannot sell on the open market. That means Friday’s wealth is real on paper but not yet convertible (can’t be sold), and the share price can move in either direction before the lockup lifts. For local workers, the payday is more of a milestone than an immediate windfall, but it is definitely a life-changing milestone for those who have already invested in their employer.

Analysts Are Largely Positive On The Stock

On the buy-side, noted Tesla investor Cathie Wood and her ARK Investment Management is far more bullish than most, projecting SpaceX could reach a $3.1 trillion market cap by 2030.

Oppenheimer analyst Timothy Horan initiated SPCX with a “Buy” rating and a $190 price target, signaling potential upside of more than 40 percent from the IPO price. He framed it as an “outperform” rating, implying roughly $2.5 trillion in market cap within 12 to 18 months, and argued SpaceX is the only vertically integrated AI firm with the capital, data, hardware, manufacturing, and engineering talent to back the premium.

New Street Research senior analyst Pierre Ferragu set a bullish $165 price objective, indicating over 22 percent upside. His baseline model sees $195 billion in revenue by the end of the decade, driven by $650 billion in value from Starlink and $575 billion from AI. New Street also floated a bull case reaching $330 per share, which would push the market cap into the $4 trillion range within five years.

Not everyone is convinced the price holds. Morningstar called SpaceX “significantly overvalued” at the offering price. They say, “We value SpaceX at $63 per share, a 53% discount to the upcoming IPO price. Our valuation is the result of mathematics more than skepticism, reflecting a wide range of possible outcomes for the company’s financial future. Our probability-weighted DCF-based valuation incorporates three scenarios for the firm’s most uncertain artificial intelligence business.”

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