{"id":1934,"date":"2026-06-11T21:37:25","date_gmt":"2026-06-11T21:37:25","guid":{"rendered":"https:\/\/relocationobserver.com\/?p=1934"},"modified":"2026-06-11T21:37:25","modified_gmt":"2026-06-11T21:37:25","slug":"elon-musks-spacex-ipo-company-sets-initial-stock-pricing-for-biggest-ever-public-offering-at-1-77-billion-valuation","status":"publish","type":"post","link":"https:\/\/relocationobserver.com\/?p=1934","title":{"rendered":"Elon Musk\u2019s SpaceX IPO: Company Sets Initial Stock Pricing for Biggest-Ever Public Offering at $1.77 Billion Valuation"},"content":{"rendered":"
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\nElon Musk\u2019s SpaceX \u2014 rocket manufacturer, satellite internet service provider, AI firm and owner of X (aka Twitter) all rolled into one \u2014 has officially set a record for the biggest IPO in history with its initial stock pricing.<\/p>\n

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\n\tSpaceX on Thursday confirmed the pricing of its IPO of 555.6 million shares of its Class A common stock, at a public offering price of $135.00\/share. That gives it a valuation of around $1.77 billion; the company raised about $75 billion from the IPO.\u00a0Shares of the company, which is officially \u201cSpace Exploration Technologies Corp.,\u201d are expected to begin trading Friday on Nasdaq Global Select Market and Nasdaq Texas under the symbol \u201cSPCX,\u201d it said.<\/p>\n

\n\tEven so, leading up to the IPO, analysts have identified concerns with SpaceX\u2019s lofty valuation given its current financials.<\/p>\n

\n\tIn a June 8 report, research firm Morningstar put a fair-value estimate of $63\/share on SpaceX. Even that assumes favorable outcomes of two unproven technologies: a rapidly reusable Starship upper stage and commercially scalable and competitive orbital AI data centers. \u201cWe expect neither of these technological questions to be answered before 2028, even in the most optimistic scenario,\u201d Morningstar analysts led by Nicholas Owens wrote.<\/p>\n

\n\tMeanwhile, whereas SpaceX claimed Starlink\u2019s global addressable market was a whopping $1.6 trillion, Morningstar estimates it at less than 10% of that: $129 billion globally. The analysts project 7.5x revenue growth for Starlink to $85 billion by 2035, supported by \u201cniche broadband, enterprise use cases, and carrier partnerships.\u201d<\/p>\n

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\n\tSpaceX\u2019s IPO valuation was substantially higher than previous high-profile tech IPOs \u2014 roughly 94 times<\/em> revenue, the analysts pointed out (compared with, for example, Meta at 22x and Amazon at 18x). The IPO valuation implied that the company\u2019s 2035 earnings before interest and taxes would have to grow 75-fold from 2025 levels.<\/p>\n

\n\tIn 2025, the company\u2019s xAI segment \u2014 which includes X \u2014 posted a $6.36 billion operating loss (vs. a $1.56 billion loss a year earlier) on $3.2 billion in revenue (up 22%). For the first three months of 2026, capital expenditures for the AI business came in at $7.7 billion. That represents a significant acceleration from $12.7 billion in capex for full-year 2025.<\/p>\n

\n\tX, which is what Musk renamed Twitter after his debt-laden $44 billion deal for the social network, generated about $1.8 billion in ad revenue in 2025, per SpaceX\u2019s IPO filing \u2014 less than half of the $4.5 billion in ad sales Twitter reported in 2021. As of the end of March, X had about 550 million monthly active users; of those, only 4.4 million were paying subscribers.<\/p>\n

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Elon Musk\u2019s SpaceX — rocket manufacturer, satellite internet service provider, AI firm and owner of X (aka Twitter) all rolled into one — has officially set a record for the biggest IPO in history with its initial stock pricing.<\/p>\n","protected":false},"author":1,"featured_media":1933,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[106,1664,1665],"class_list":["post-1934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biz","tag-elon-musk","tag-spacex","tag-x"],"yoast_head":"\nElon Musk\u2019s SpaceX IPO: Company Sets Initial Stock Pricing for Biggest-Ever Public Offering at $1.77 Billion Valuation - Relocation Observer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/relocationobserver.com\/?p=1934\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk\u2019s SpaceX IPO: Company Sets Initial Stock Pricing for Biggest-Ever Public Offering at $1.77 Billion Valuation - 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