The biggest IPO in history. SpaceX raised $75B on June 12, priced at $135, opened at $150, and closed at $160.95 — a ~$2.2T company, making Elon Musk the world's first trillionaire. Here's how the debut played out.
The headline number is $80B raised at ~$2T. The story is in the footnotes.
Anthropic will pay SpaceX $1.25B per month through May 2029 — approximately $45B in aggregate — for compute capacity on xAI data centers (now part of the SpaceX consolidated entity after the March 2025 X Merger). Either party may terminate with 90 days notice. Ramp phase May–Jun 2026 priced at a reduced fee.
SpaceX holds a 30-day call option on Cursor at $60B implied equity value, payable entirely in SPCX Class A shares. Window opens on the earlier of (a) 7 trading days post-IPO or (b) September 30, 2026. If SpaceX walks: $1.5B termination fee plus an $8.5B deferred services obligation. The first major test of SPCX as acquisition currency.
Closing now: $11.1B equity (261.8M SPCX shares at $42.40, pre-split basis) plus up to $8.5B debt assumption. FCC approval received May 12, 2026. Expected close November 30, 2027. Adds AWS-4, MSS, and 2 GHz S-band spectrum to the Starlink Direct-to-Cell roadmap — eliminating EchoStar as a competing spectrum holder.
Musk's 2025 salary was $54,080. In January 2026 the board granted him 1B Class B shares vesting on 15 market-cap milestones from $500B to $7.5T plus a Mars colony milestone. He also receives 302M xAI replacement shares tied to a Mars data-center milestone. The grant is the largest CEO compensation package ever filed.
Trading on Nasdaq since June 12. The pre-IPO watch is resolved; price discovery is live.
Insider/employee lockups typically unwind ~90–180 days post-IPO — the next big supply event to watch.
A separate Starlink listing remains the live sequel thesis. Pure-play subscriber economics could trade richer.
At ~$2.2T, eligibility for major index inclusion is a forced-buying catalyst worth tracking.
SpaceX is public. $135 offer, +19% to $160.95 on day one, ~$2.2T cap, $75B raised — the biggest IPO ever, and Musk is the first trillionaire. The pre-IPO tracking is done; SPCX now trades like any flagship. Next watch items: the lockup expiry and a possible Starlink spin-off.
Holds equity from the 2015 $1B round. Direct mark-to-market exposure on every valuation event.
Direct Starlink competitor. Closest public proxy for the satcom comp set valuation.
Legacy GEO satcom incumbent. Loses share as Starlink scales. Pure short proxy.
Only other listed orbital launch provider. Trades on every SpaceX cadence and Starship milestone.
Competes for the same DoD launch contracts. Win/loss has direct read-through.
Shared cap table, shared CEO, shared narrative. Elon mood ring trades both ways.
Prices at $135, opens at $150, closes +19% at $160.95. $75B raised — the largest IPO in history. Musk becomes the first trillionaire.
The price-setting event before the float.
Valuation doubles in six months.
Largest private valuation in history at the time.
Elon Musk founds Space Exploration Technologies to cut launch costs.
S-1/A with price range drops first. Then the roadshow. Then the date. We'll email you the moment each one lands — no spam, no upsell.
No account, no spam, no upsell. One vote per IP per spec per day. Charted live against Bob and Polymarket. When SPCX prices, we publish the receipts.
Every forecast is appended once. None edited, none deleted. When SPCX prices, we publish the receipts.
Distance from consensus. Lowest is most aligned with the crowd. Highest is the most contrarian (or the most wrong — we'll find out together).