SpaceX IPO live updates: Everything you need to know about the SPCX stock debut

SpaceX Begins Public Trading Under Ticker SPCX After $75 Billion IPO

SpaceX began trading on Friday under the ticker SPCX following an initial public offering that raised $75 billion through the sale of 555.6 million shares priced at $135 each. The transaction valued the company at $1.77 trillion, placing it among the largest U.S. public companies by market capitalization.

The company disclosed in its Securities and Exchange Commission filing that it has recorded a cumulative deficit of $41.3 billion since its founding in 2002. Chief Executive Officer Elon Musk stated during a JPMorgan Chase livestream that SpaceX has been cash-flow positive since approximately 2015. He indicated the proceeds would support expansion plans, including deployment of more than 100,000 satellites and development of artificial intelligence data centers in orbit.

SpaceX acquired xAI in February 2026, incorporating its data centers, Grok AI models, and the social network X into its operations. The Starlink satellite internet unit accounted for the majority of revenue, generating $11.39 billion in 2025, or 61 percent of total sales. In the first quarter of 2026, Starlink's share of sales rose to 69 percent. The company reported a net loss of $4.9 billion for 2025 and $4.28 billion in the first quarter of 2026.

Ownership and Governance

Following the IPO, Elon Musk holds voting control of 82.4 percent of SpaceX shares, according to the prospectus. He is required to retain all shares for 366 days under lock-up provisions. The filing states that Musk's ownership provides an economic incentive aligned with company performance but notes that after the lock-up period he may reduce or sell his stake without further obligation. SpaceX is designated a controlled company without an independent board majority. Approximately 911 million insider shares, roughly twice the public float, become eligible for sale two days after the first scheduled earnings report.

Market Activity and Investor Sentiment

Options trading volumes increased in shares of companies with SpaceX exposure ahead of the debut. EchoStar, which holds an estimated 3 percent stake, rose 11 percent on Thursday with options volume exceeding eleven times the 30-day average. AST SpaceMobile shares increased 12 percent alongside nearly $140 million in options activity. Both stocks traded higher in early Friday sessions.

Perpetual futures contracts linked to SpaceX on Hyperliquid traded around $176 on Friday, approximately 30 percent above the IPO price, with more than $233 million in volume over 24 hours and open interest above $263 million. Prediction market participants on Polymarket assigned 70 percent probability that SpaceX would close above a $2 trillion market capitalization on its first trading day and 84 percent odds it would finish above $1.8 trillion.

Retail trading data from VandaTrack indicated reduced positions in certain artificial intelligence-related equities such as Micron, Advanced Micro Devices, and Marvell Technology in the period leading into the IPO.

Operational and Development Plans

SpaceX President and Chief Operating Officer Gwynne Shotwell stated that orbital Starship flights depend on Federal Aviation Administration approvals. She noted the company plans monthly launches and expects to achieve orbital flight by the end of 2026, citing prior in-space Raptor engine tests. Shotwell described the IPO as providing capital for Starship development and additional initiatives.

Musk outlined plans to construct orbital data centers powered by solar energy to support expanded AI operations. The prospectus lists a target of initial computing satellites by 2028. The filing also references risks associated with heavy lift requirements, power consumption, and thermal management in space environments. Other firms, including Alphabet, have pursued similar concepts.

Financial Disclosures and Risks

The prospectus details that Starlink remains the primary source of current revenue while Starship development has required more than $15 billion in expenditures to date. The company warned that historical net losses may continue and that profitability is not assured, with capital and operating expenses expected to rise alongside Starship and AI-related investments. Standard risk factors include regulatory approvals, technical execution challenges, and competition in satellite communications and launch services.

Public Demonstrations

A group identifying itself as Safe AI Now organized a demonstration in Times Square on June 11, 2026, featuring an inflatable figure and statements concerning AI tools associated with xAI. The coalition cited ongoing investigations in multiple jurisdictions and litigation, including cases involving the city of Baltimore and individual plaintiffs. SpaceX recorded a $530 million accrual for probable litigation losses as of the end of 2025. The company has not issued a separate response to the demonstration.

SpaceX shares opened for trading on Friday with initial activity reflecting both the scale of the offering and broader market interest in the aerospace and satellite sectors. Additional updates will follow as trading progresses and further financial details become available.