SpaceX to open at $171, 27% above $135 IPO, valued $2.24T

SpaceX shares are set to open on Nasdaq at $171, 27% above the $135 IPO price, which implies a debut market valuation of about $2.24 trillion.

The IPO was priced at $135 and raised roughly $75 billion, producing an initial market capitalization of about $1.77 trillion at the offering price.

Underwriters received more than $250 billion in institutional orders and roughly $350 billion in total demand, according to reports. Pre-market indications pointed to an opening gain of 25%–30%; the $171 indication is near the middle of that range.

Nasdaq conducts a price-discovery auction before regular trading to match buy and sell orders; for large listings this process can delay the official open.

SpaceX’s public float is relatively small. Strong institutional and retail demand and expected buying from passive ETFs and index funds are part of the market picture ahead of the debut.

The public listing offers investors exposure to Starlink, the company’s reusable-rocket operations, defense contracts and potential revenue from artificial intelligence and orbital services.

Elon Musk has stated that when he launched SpaceX he gave the company ‘less than a 10% chance’ of succeeding.

Prediction-market activity on Kalshi now prices Musk’s potential net worth near $1.5 trillion this year if shares move higher.