SpaceX Goes Public at $135 Per Share. Upending Decades of Wall Street IPO Convention

SpaceX, Elon Musk’s rocket and satellite company, has publicly set its IPO price at $135 per share, targeting a record-breaking raise of approximately $75 billion a move that is simultaneously one of the largest IPOs in history and a deliberate challenge to the traditional Wall Street price-discovery process.

The announcement, confirmed by Reuters on June 3, 2026, marks a watershed moment not just for SpaceX but for how major technology companies approach going public. Rather than relying on the traditional book-building process where investment banks gauge institutional investor demand over weeks of roadshows before setting a price SpaceX publicly announced its price directly, bypassing much of the conventional apparatus.

Breaking the Wall Street Mold

The decision to publicly set the IPO price upends longstanding conventions. Typically, IPO prices are set through a confidential process involving investment banks, institutional investors, and company executives. By announcing the $135 price publicly, SpaceX is signaling that it does not need Wall Street’s traditional gatekeeping it has enough brand recognition and investor demand to set terms on its own.

This approach mirrors Musk’s broader philosophy of disrupting established institutions, from traditional automakers (Tesla) to social media platforms (X/Twitter) to government space programs (NASA partnerships). The SpaceX IPO is, in many ways, a statement as much as a financial transaction.

The Numbers Behind the Deal

At $135 per share, SpaceX is targeting a raise of approximately $75 billion which would make it one of the largest IPOs ever recorded. The company has also won Texas county approval for tax breaks tied to its “Terafab” chip manufacturing facility, adding another dimension to its expanding business empire beyond rockets and Starlink.

SpaceX’s valuation has been climbing rapidly, driven by the explosive growth of its Starlink satellite internet service, which now serves tens of millions of customers globally, and its dominance in commercial launch services. The company has also been awarded significant U.S. government contracts for both NASA missions and national security launches.

The AI IPO Wave

The SpaceX IPO is part of a broader wave of high-profile tech IPOs in 2026. Anthropic has filed to go public, and OpenAI is expected to follow. Alphabet’s record-breaking $85 billion equity raise announced the same day as SpaceX’s IPO price has demonstrated that public market appetite for AI and tech investments remains strong.

Together, these deals represent a historic moment of capital formation in the technology sector. The question is whether public markets can absorb this much supply and whether the valuations being sought can be sustained once these companies are subject to quarterly earnings scrutiny.

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