SpaceX is set to make its public stock market debut today after the biggest initial public offering in history yesterday.
Wait, yesterday? Yep: It’s a common misconception that the IPO happens when shares start trading on the stock market. The IPO was actually on Thursday, when SpaceX sold 556 million shares at $135 a share to big investors, raising $75 billion.
That values the company at $1.77 trillion, which makes it the seventh-largest public company … just ahead of Tesla, Elon Musk’s other gigantic public corporation.
SpaceX is an unusually mature company for a business that’s just going public. And it’s growing – fast.
It brought in $18.7 billion in sales last year, up an astonishing 33% from 2024.
But SpaceX is losing a ton of money: $4.9 billion in 2025 and $4.3 billion in the first three months of 2026. That’s because it’s spending loads on AI: $12.7 billion last year and $7.7 billion in the first quarter of this year alone.
All that spending is to help fuel Musk’s ambition to launch data centers into space – with all the free cooling and free energy from the sun. It can then beam a signal back down to Earth with its Starlink satellite network.
It also has bigger goals, including establishing colonies on Mars and the Moon.
If it does those things, Elon Musk will earn another $1 trillion.
Yep. Another $1 trillion. Because he became a trillonaire yesterday in the IPO.
OK, Bloomberg actually says he’s worth $971 billion. What’s $29 billion between friends? If the stock trades just a bit higher, he’ll easily eclipse that.
