SpaceX IPO: Everything you need to know

Overview

TechCrunch's continually updated guide covers the SpaceX IPO, which it calls the largest in history. The company priced 555.6 million shares at $135 each to raise $75 billion, and shares opened at $150 on the Nasdaq, an 11% pop. The deal looks set to make Elon Musk the world's first trillionaire, even as the company's S-1 shows it lost $4.9 billion on more than $18 billion in revenue in 2025.

Key Takeaways

SpaceX priced 555.6 million shares at $135 each to raise $75 billion, making it the largest IPO in history.
Shares opened at $150 on the Nasdaq, an 11% pop, and rose as high as 30% in midday trading.
Shares closed at $160.95, up 19%, on heavy trading volume.
The deal looks set to make Elon Musk the world's first trillionaire.
SpaceX lost $4.9 billion on more than $18 billion in revenue in 2025, with over $37 billion lost since inception.
Banks brought in about $500 million in total fees, with Goldman Sachs and Morgan Stanley as the big winners.

Stats & Key Facts

#555.6 million shares priced at $135 each.
#The IPO raised $75 billion.
#Shares opened at $150 on the Nasdaq, an 11% pop.
#Shares closed at $160.95, up 19%.
#SpaceX lost $4.9 billion on more than $18 billion in revenue in 2025.
#Banks earned about $500 million in total fees.

The size of the offering

TechCrunch calls this the largest IPO in history.

›SpaceX priced 555.6 million shares at $135 each.
›The offering raised $75 billion.
›The deal looks set to make Musk the world's first trillionaire.

TechCrunch notes that in SpaceX's 24-year history, nothing quite compares to this initial public offering, with interest driven by its reusable rocket launches, the rise of its Starlink satellite network, and founder and CEO Elon Musk.

How the stock traded on debut

The shares jumped on their first day.

›SpaceX shares opened at $150 on the Nasdaq, an 11% pop.
›In midday trading, shares soared 30%.
›Shares closed at $160.95, up 19%, on heavy trading volume.

Robinhood said it saw record-breaking traffic on its trading platform in the hours after SpaceX's debut. TechCrunch describes it as the most anticipated debut in history.

The numbers inside the S-1

The filing shows a company that loses money at scale.

›SpaceX lost $4.9 billion on revenues of over $18 billion in 2025.
›That loss is only a fraction of the more than $37 billion lost since SpaceX's inception.
›TechCrunch highlights these as some of the eyewatering figures in the S-1.

The guide frames these numbers as the consequential figures behind the headline valuation, drawn from the company's S-1 registration document.

Who wins from the IPO

The offering created clear financial winners.

›Banks brought in about $500 million in total fees.
›Goldman Sachs and Morgan Stanley were the big winners among the banks.
›Musk is set to become the world's first trillionaire.

Musk took to X to share his appreciation of SpaceX employees as the stock rose, writing that he loves the incredible people of SpaceX beyond words. He also reposted IPO-related posts, including a photo of insiders wearing green shoes, a nod to the green shoe option, a provision that lets underwriters sell up to 15% more shares than planned if demand is strong.

A possible Tesla angle

A SpaceX executive raised the idea of a merger.

›SpaceX COO Gwynne Shotwell was interviewed by CNBC on Friday.
›Shotwell said a merger between SpaceX and Tesla might make Elon's life a little easier.
›The comment could draw the attention of Tesla shareholders.

TechCrunch notes the comment as one of several interesting points from the interview tied to the company's new status as a public company.

How to track the IPO

TechCrunch points readers to live sources.

›SpaceX is debuting on Nasdaq, which posts the official listing and price of record.
›Nasdaq also has video of the SpaceX crew ringing the bell.
›Financial press outlets like Bloomberg and CNBC are running liveblogs.

TechCrunch says this article will be continually updated with the latest SpaceX IPO news and points to its Equity podcast for deeper discussion of the implications.

Frequently Asked Questions

How much did the SpaceX IPO raise?

SpaceX priced 555.6 million shares at $135 each to raise $75 billion, which TechCrunch calls the largest IPO in history.

What was the opening and closing share price?

Shares opened at $150 on the Nasdaq, an 11% pop, soared as high as 30% in midday trading, and closed at $160.95, up 19%.

Is SpaceX profitable?

No. The S-1 shows SpaceX lost $4.9 billion on revenues of over $18 billion in 2025, part of more than $37 billion lost since its inception.

Which banks benefited from the IPO?

Banks brought in about $500 million in total fees, with Goldman Sachs and Morgan Stanley as the big winners.

Did anyone mention a Tesla merger?

Yes. SpaceX COO Gwynne Shotwell told CNBC that a merger between SpaceX and Tesla might make Elon's life a little easier.

SpaceX's record $75 billion IPO sent shares up 19% on debut and positioned Elon Musk to become the world's first trillionaire despite the company's large losses.