SpaceX has been attracting the attention of media, investors, and the general public for years. That interest was driven by the company’s reusable rocket launches, the rise of its Starlink satellite network, and, of course, founder and CEO Elon Musk.
But nothing in its 24-year history has matched this initial public offering. Everyone seems interested, perhaps because of the sheer size of this IPO. The company raised 555.6 million shares at a price of $135 per share, raising $75 billion, making it the largest IPO in history. At this price, the deal is expected to make Musk the world’s first trillionaire.
TechCrunch has been following SpaceX’s early start, struggles, and successes. And we’re here for what happens next. This article will be continuously updated with all the latest news regarding SpaceX’s IPO.
How to track SpaceX IPO
In an offer this large, there are many financial mechanisms operating behind the scenes. So, the first question is when will the stock come on the market and start trading? SpaceX is making its NASDAQ debut and you can check out its official NASDAQ listing here. Once listed, it immediately commands a record price. NASDAQ also has a video of SpaceX crew members ringing the bell.
But price is only part of the picture. Financial news outlets like Bloomberg and CNBC are still your best bet for the latest information. Both have live blogs that provide detailed coverage of all the issues that arise when bringing stocks to market.
In terms of numbers
Here’s a look at some of the bigger numbers, the resulting numbers, and the eye-popping sums that make up the company’s S-1 form.
For example, SpaceX lost $4.9 billion in 2025 on revenue of over $18 billion. This is just a fraction of the more than $37 billion that SpaceX has lost since its founding.
As CEO, Elon Musk holds approximately 85.1% of the company’s voting rights. You can read more about it in the next section: Who wins and who doesn’t. We will continue to publish interesting numbers here.
Here’s another number that caught our attention…4,400. According to the NYT, this is the number of SpaceX employees who could become billionaires.
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Who wins and who doesn’t?
SpaceX is the biggest IPO in history, and it means a big payday for some investors, employees, and of course Elon Musk.
How Elon Musk will increase his power through SpaceX’s IPO: With more than 50% of the voting power, Musk will have monarchical control over the publicly traded version of SpaceX — control that far exceeds that enjoyed by other tech founders.
Who will benefit most from SpaceX’s IPO? Mostly Elon, and a few of his aides too. Elon Musk owns the largest stake in SpaceX with billions of shares, but others could win as well. Here’s an overview of who owns what:
Investors in the SpaceX SPV will not know their true holdings until the post-IPO lockup is lifted. After SpaceX makes its public debut, lower-tier SPV investors face hidden fees, lengthy payment delays, and the risk of outright fraud.
What’s in S-1?
The S-1 registration document provided the world with an unprecedented look inside SpaceX, including its finances and various operations. The S-1 kept getting revised as the IPO date approached and we were working on it. This is what we found.
SpaceX’s IPO filing is packed with bets on AI, dreams of Starship, and the man at the center: Elon Musk. SpaceX’s IPO details a business dominated by its Starlink satellite internet offering, more than $37 billion in losses, and future business prospects through its xAI division.
After SpaceX’s S-1, the path to Starship reusability looks uncertain: SpaceX’s IPO and Starship rocket test flight provided two major data points that provide a realistic vision for the coming years. And one that could disappoint both the company’s promoters and critics.
SpaceX warns investors of future dilution, fuels Tesla merger rumors: The company has added new language to its S-1, warning prospective investors that significant dilution could occur after going public.
Pre-IPO transactions and events
Ahead of its IPO, SpaceX finalized a series of deals, most of them selling computing to improve its balance sheet.
Anthropic will pay xAI $1.25 billion per month in computing fees: Anthropic deal first reported on May 20th.
How long is Anthropic’s contract with SpaceX? Opinions vary. Elon Musk continues to downplay the length of SpaceX’s contracts with Anthropic.
Google will pay SpaceX $920 million per month in computing costs: A Google representative described the deal as a short-term deal to address unexpected demand for recently launched AI products.
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