SpaceX has begun trading on Friday under the ticker SPCX, following what is described as the largest initial public offering (IPO) in history.
SpaceX President and COO Gwynne Shotwell rang the opening bell at the Nasdaq in New York, while founder Elon Musk participated from Texas.
The reusable rocket company disclosed in a filing with the U.S. Securities and Exchange Commission that it raised about $75 billion, selling 555.6 million shares at $135 each.
The offering places the company’s valuation at approximately $1.77 trillion, making it the seventh most valuable U.S. company, surpassing Tesla, also owned by Musk.
Musk, speaking on a JPMorgan Chase livestream ahead of the listing, said SpaceX has been cash-flow positive since around 2015 and that the public offering is aimed at funding a new phase of expansion.
He noted plans to deploy more than 100,000 satellites for global communications and to develop artificial intelligence data centres in space.
Although SpaceX began as a reusable rocket manufacturer, its Starlink satellite internet service remains its primary profitable division.
The company also revealed that it acquired Musk’s artificial intelligence startup xAI in February 2026, along with its data centres, Grok AI models, and related products, including the X social media platform, formerly Twitter.
According to its prospectus, SpaceX has accumulated a total deficit of $41.3 billion since its founding in 2002.