SpaceX IPO Soars 19% to $161 on Record $75B Debut, June 13

SpaceX closed its first trading day at $161 USD, up 19% from the $135 IPO price, in the largest initial public offering ever. The company raised $75 billion and is now valued at $1.77 trillion USD, making it one of the 10 largest publicly traded companies in the world. The debut signals a new era for mega-cap tech listings and raises questions about how index funds will handle these massive new entrants.

Record IPO Size and First Day Rally

SpaceX priced its offering at $135 USD per share on June 11 and began trading on Nasdaq under ticker SPCX on June 12. The stock opened at $150 USD and closed at $161 USD, a 19% gain from the IPO price. Over 500 million shares traded hands, approaching Facebook’s 2012 first-day record of 580 million shares. The company’s market cap reached $2.1 trillion USD in extended trading, adding roughly $100 billion USD to its value after the close.

What SpaceX Raised the Money For

Elon Musk said on a JPMorgan Chase livestream that SpaceX has been cash-flow positive since around 2015. The company plans to use IPO proceeds for expansion of its AI and rocket businesses, including placing over 100,000 satellites in orbit for communications and building artificial intelligence data centers in space. SpaceX acquired Musk’s startup xAI in February 2026, bringing data centers, Grok AI models, and the social network X into the company. Despite these ambitious plans, SpaceX has accumulated a total loss of $41.3 billion USD since its founding in 2002.

Why S&P 500 Index Funds Won’t Own SpaceX Yet

The S&P 500 index committee declined to fast-track SpaceX into the benchmark, meaning S&P 500 index funds will wait until mid-2027 to gain exposure. The Nasdaq-100 and Russell 1000 indexes, however, updated their rules to allow SpaceX entry within weeks. Vanguard’s VOO and BlackRock’s IVV S&P 500 ETFs, which manage nearly $2 trillion USD in combined assets, will not hold SpaceX shares for at least 12 months. The Nasdaq-100 is expected to add SpaceX within 15 trading days of listing.

The Valuation Challenge: 4% of Shares, $1.77 Trillion Price Tag

SpaceX sold only 555.6 million Class A shares, representing roughly 4.2% of the company’s total equity. This small float means a thin market is pricing an enormous enterprise. The $135 IPO price was applied to the entire company’s share base to derive the $1.77 trillion USD valuation, even though most shares remain restricted. Additional share lockups will release in tranches over 180 days, with Elon Musk facing a 366-day restriction on selling his stake.

Final Thoughts

SpaceX’s record IPO establishes a new playbook for mega-cap tech listings, but retail investors using S&P 500 index funds must wait until mid-2027 for exposure. The 19% first-day gain reflects strong demand, though the thin 4% float creates pricing volatility in early trading.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.