Starlink
The world's largest satellite broadband network. Crossed 10.3M subscribers in Q1 2026, adding 750K–1.5M per month. The cash engine that anchors the valuation.
$11.4B FY25 · +50% YoY · $4.4B operating income
S-1 Filed · Nasdaq:SPCX · IPO June 12, 2026
SpaceX is going public. The largest IPO in history.
On May 20, 2026, Space Exploration Technologies Corp. filed its S-1 registration with the SEC, confirming a Nasdaq listing under the ticker SPCX. Roadshow opens June 8. Pricing June 11. Trading begins June 12, 2026 at a targeted valuation of $1.75 trillion, raising up to $75 billion — more than double Saudi Aramco's 2019 record.
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Ticker
SPCX
Nasdaq Global Select & Nasdaq Texas
IPO Date
Jun 12 '26
Pricing June 11, roadshow June 8
Target Valuation
$1.75T
Up to $2T per Bloomberg
Capital Raise
$75B
Largest IPO ever recorded
2025 Revenue
$18.67B
+33% YoY
Share Class
Class A
Musk retains 10× voting Class B
Live Chart
NASDAQ:SPCX — Real-time price & volume
PRE-IPO · Live data activates June 12, 2026
SPCX has not started trading yet
SpaceX will price its IPO on June 11, 2026 and begin trading on Nasdaq the following day. The live chart below will populate automatically once price discovery begins.
Expected range to be set during roadshow
Chart provided by TradingView. Not a recommendation. See disclaimer.
The Filing
FULL IPO DETAILS →
SPCX IPO timeline at a glance
Apr 1, 2026
Confidential S-1 filed
SpaceX submits draft registration to the SEC.
May 20, 2026
Public S-1 released
First public look at SpaceX financials, ownership, risks.
Jun 8, 2026
Roadshow opens
Institutional marketing across NYC, London, Hong Kong.
Jun 11, 2026
Pricing
Final offer price set after order-book close.
Jun 12, 2026
Trading begins
SPCX opens on Nasdaq Global Select & Nasdaq Texas.
By the Numbers
FULL FINANCIALS →
From $10B to $18.7B in two years.
Consolidated Revenue
$18.67B
FY2025 · +33.2% YoY · +79.8% over 2 yrs
Net loss FY2025: $4.9B — driven by $3B Starship R&D + xAI integration costs.
Revenue by segment (FY2025)
Connectivity (Starlink)10.3M subscribers · 164 countries · 9,600+ satellites
61.1%
Launch services (Falcon)Government & commercial contracts
22.5%
StarshieldDefense & classified payloads
9.6%
xAI / OtherGrok, X platform, orbital AI
6.8%
What You're Buying
DEEP DIVE →
Four businesses, one ticker.
Falcon Launch
Reusable rocket dominance. Falcon 9 captured ~90% of global commercial launch share in 2025. Anchored by NASA, NRO, USSF, and commercial constellations.
~$4.2B FY25 launch revenue · Highest cadence in industry
Starshield
Government-only constellation built on Starlink architecture. Classified payloads, secure comms, surveillance. Multi-billion contracts with NRO and DoD.
$1.8B FY25 · Margin profile undisclosed
Starship + xAI
Starship targets first payload to orbit H2 2026. xAI (merged Feb 2026) provides Grok models and orbital AI data centers. The narrative engine of the IPO.
$3B Starship R&D in 2025 · xAI valued at $250B
For Retail Investors
FULL GUIDE →
How to buy SPCX stock.
Open a brokerage account
Any U.S. broker with Nasdaq access will list SPCX on day one. Most major brokers waive commissions on stock trades.
Fund your account
ACH transfer typically clears in 1–3 business days. Wire transfers settle same-day. Fund before pricing on June 11 to participate at the open.
Decide: open or wait
Hyped IPOs commonly retrace 20–40% in the first 90 days. A first-earnings-print entry (early November 2026) gives one full quarter of SEC-filed data.
Place the order
Use a limit order on day one — never a market order at the open. Expected first-day volatility makes execution price critical.
Pre-IPO exposure today: The Cambria ERShares Private Investments ETF (XOVR) holds SpaceX via SPV — that allocation reportedly exceeded 40% as of early April 2026, making it the closest proxy until SPCX trades.
Around the S-1
ALL NEWS →
What the filing actually says.
Filing · S-1
Net loss of $4.9B on $18.7B revenue
Big spending, bigger ambitions: $3B in Starship R&D in 2025 alone, plus $930M in Q1 2026. The losses are operational by design — payload delivery is meant to begin H2 2026.
Governance · Class B
Musk keeps absolute voting control
The dual-class structure gives Class B shares 10× the voting power. Even at $75B raised, Musk retains majority voting power. Five board members ride along.
Underwriters · 23 Banks
Goldman lead-left, Morgan Stanley stabilization
The bookrunner stack: Goldman Sachs (lead), Morgan Stanley (stabilization agent), Bank of America, Citigroup, JPMorgan — plus 18 more, the largest syndicate ever assembled.
Starlink · Connectivity
10.3M subscribers, 164 countries, 9,600 sats
Starlink alone produced $11.4B in revenue and $4.4B in segment operating income. Growth holding at ~50% YoY despite the law of large numbers.
xAI Merger · Feb 2026
The AI line item nobody asked for
SpaceX absorbed xAI in February 2026 in an all-stock deal valuing the combined entity at $1.25T. Grok now runs Starlink network optimization; orbital AI data centers are the next bet.
Valuation · $1.75T
100x revenue, no profit — yet
At $1.75T target, SPCX trades at ~100x trailing revenue and would slot behind only Nvidia, Apple, Alphabet, Microsoft, and Amazon by market cap.
Common Questions
FULL FAQ →
What investors keep asking.
When does SpaceX (SPCX) start trading?
SpaceX is targeting June 12, 2026 to begin trading on the Nasdaq under the ticker SPCX. Pricing is scheduled for June 11, 2026, with the investor roadshow beginning the week of June 8. Dates are subject to SEC review and market conditions.
What is the SpaceX IPO valuation?
SpaceX is targeting a valuation of approximately $1.75 trillion, with a capital raise of up to $75 billion. Bloomberg has reported the valuation could reach $2 trillion. Either way, this surpasses Saudi Aramco's 2019 $29.4B raise as the largest IPO in recorded history.
How can I buy SPCX before June 12?
You can't buy SPCX directly until it lists. The closest pre-IPO exposure is the Cambria ERShares Private Investments ETF (XOVR), which as of April 2026 held a SpaceX position (via SPV) reportedly exceeding 40% of fund assets. Other indirect routes include Alphabet (Google holds ~7M shares), Founders Fund, and secondary-market platforms for accredited investors.
Is SPCX a good investment?
At $1.75T, SPCX would trade at ~100× trailing revenue and the company posted a $4.9B net loss in 2025. The bull case rests on Starlink unit economics, Starship reusability, and xAI optionality. The bear case is the multiple and concentration risk in Musk. Read our valuation analysis for both sides. This site is not investment advice — see disclaimer.
Does Elon Musk lose control after the IPO?
No. SpaceX uses a dual-class structure: Class A (public) gets 1 vote per share; Class B (insider) gets 10 votes per share. Musk and aligned insiders retain majority voting power regardless of the float size. This mirrors the structure used by Meta, Alphabet, and Snap.
What are the biggest risks?
Per the S-1 risk factors: (1) Starship technical execution risk — payload delivery is targeted for H2 2026; (2) regulatory risk around Starlink spectrum and orbital debris; (3) customer concentration in U.S. government contracts; (4) Musk key-person risk; (5) xAI integration costs and unclear revenue contribution; (6) valuation risk at ~100× revenue.
Disclaimer: SpaceXChart is an independent information site and is not affiliated with, endorsed by, or connected to Space Exploration Technologies Corp., Elon Musk, or any underwriter. All data sourced from public SEC filings, company press releases, and reputable financial reporting. Nothing on this site constitutes investment advice, an offer to sell securities, or a solicitation to buy. IPO dates, prices, and terms are subject to change. Consult a licensed financial advisor before investing. Read our full disclaimer, privacy policy, and terms of use.