SpaceX IPO (Jun 12 2026) — Largest in History
eventAI & Compute
SpaceX's stock-market debut was the biggest in history and made Musk the first documented trillionaire.
Who they are
The SpaceX IPO on Nasdaq (ticker SPCX) on June 12, 2026.
What they do
The largest initial public offering ever, cashing in at the peak of the AI and space investment cycle.
How it works
It priced at $135 a share (a $1.77T valuation), closed up 19 percent to push its market cap over $2T, and raised roughly $85B; within five weeks the stock briefly fell below its offer price amid doubts about debt-funded AI spending, then by its first public earnings in August (Q2 revenue $7.81B, up 92 percent, capex $18.37B) it rallied back near $135 as Starlink hit 12 million subscribers and launched a cellular service.
Why it matters
It shows the top players cashing out at the height of the AI/space boom and built the capital base for Musk's Cursor acquisition four days later, while its wobble reflected wider market doubt about whether huge AI spending will pay off.
The engine's record — word for word
SpaceX listed on Nasdaq (SPCX) Jun 12 2026: priced $135/$1.77T, closed +19% (intraday +31%) -> market cap topped $2T; raised ~$85B incl. greenshoe = the largest IPO ever; made Musk the first documented trillionaire. The engine's Jun-11 pass (#133) had this only as a pre-event watch-for ('SpaceX $70B IPO'); this is it FIRING, bigger. The operator-class monetizing at the top of the AI/space cycle; capital base for the Cursor acquisition four days later. [Live pass Jun 16 2026] [Live pass Jul 16 2026] SPCX fell BELOW its $135 IPO price for the first time (intraday Jul 15, recovered to close ~$136); short sellers hold ~$8.7B paper profit (Ortex), ~49% of free float on loan. Driver: investor concern over debt-funded AI spending + valuation skepticism (SpaceX now houses xAI/Grok + X). The largest IPO on record (~$75B raised Jun 12) trading under its offer price within five weeks — part of the same AI-capex-ROI-doubt wave as the memory-chip selloff.
[Live pass Aug 11 2026] SpaceX's first public earnings (Aug 4-5): Q2 rev $7.81B (+92%), loss narrowed to $541M, capex $18.37B ($15.83B AI-related); the Aug 6 lockup expiry drew a +23% two-day rally back near the $135 IPO price; Starlink hit 12M subs and announced 'Starlink Mobile' cellular using ~65MHz of EchoStar spectrum, carrier stocks -2-4%.
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