SpaceX IPO live updates: Record-setting IPO prices at $135 a share

SpaceX priced 555.6 million shares in its IPO at $135 each late Thursday, raising $75 billion and closing the deal with a record-setting valuation of $75 trillion. The offering will begin trading on the Nasdaq on Friday under the ticker SPCX. The company's S-1 showed a $4.9 billion loss and $18.7 billion in revenue for 2025, prompting questions about what investors are buying.

ARK Invest, which holds a stake in SpaceX, called the rocket launch business the "foundation" and Starlink the "financial engine." The filing also set out longer-term ambitions including data centers in space, Mars colonies, asteroid mining, and opportunities tied to frontier tech like AI.

Institutional demand was described as extremely robust, with The Wall Street Journal reporting that BlackRock submitted a $5 billion order. Several large investors told Business Insider the valuation looked rich and said they preferred to wait for a later entry point.

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