According to a report by Cailianshe on June 3, sources revealed that SpaceX has set an offering price target of $135 per share and plans to sell 555.6 million shares. If fully subscribed, the IPO could raise up to $75 billion — roughly 2.5 times the $29.4 billion record set by Saudi Aramco in 2019 — making it the largest public offering in history. The target valuation is at least $1.8 trillion, and up to $1.75 trillion including the greenshoe option. SpaceX plans to list on the Nasdaq under the ticker symbol „SPCX.“ The roadshow is expected to begin on June 4–5, with pricing likely finalized around June 11, and the earliest official listing on June 12. The offering adopts an all-new share issuance model, with 20% of the shares reserved for individual investors — double the typical ratio for major IPOs of similar size.
In terms of underwriting, Goldman Sachs and Morgan Stanley are serving as lead joint bookrunners, along with 21 other banks including Bank of America, Citigroup, and JPMorgan Chase. SpaceX aims to keep the underwriting fee below 0.75%, lower than the usual rate of over 1% for large IPOs. On the financial side, SpaceX completed its merger with xAI in February 2026, and its business is now divided into three segments: Space, Connectivity (Starlink), and Artificial Intelligence. In the first quarter of 2026 post-merger, revenue was $4.694 billion, operating loss was $1.943 billion, and adjusted EBITDA was $1.127 billion. For the full year 2025, revenue was $18.674 billion, with an operating loss of $2.589 billion. In Q1 2026, AI segment capital expenditure reached $7.723 billion, accounting for over 70% of the total $10.107 billion in capital spending. The dual-class share structure set out in the prospectus concentrates voting power heavily in the hands of Elon Musk and a small circle of core insiders, which some market observers view as a corporate governance risk.