SpaceX expected to surpass US$2 trillion valuation in debut on Nasdaq

A live broadcast shows SpaceX CEO Elon Musk on the day of SpaceX's initial public offering (IPO) on the Nasdaq MarketSite, in New York City, USA, June 12, 2026.
REUTERS/Jeenah Moon
SpaceX was about to surpass US$2 trillion in market value in its debut on the Nasdaq this Friday (12). The move reflects the enthusiasm surrounding the company led by Elon Musk and puts it on the path to becoming the sixth largest publicly traded company in the United States.
Shares were expected to open at around US$175, around 30% above the US$135 price set in the initial offering (IPO). This indicated a strong debut for the biggest IPO ever.
Do you have any suggestions for a report? Send it to g1
The euphoria surrounding the debut gives way to a major challenge for Wall Street's trading systems. Exchanges, brokers and financial institutions are bracing for a very high volume of orders after the company raised US$75 billion and immediately reached a valuation of US$1.77 trillion, making it one of the largest in the United States.
These institutions are also working to avoid technical problems like those that plagued Meta's debut in 2012. As SpaceX is seen as a testbed for a new generation of large IPOs, the market is closely watching investor interest ahead of upcoming company offerings of artificial intelligence, such as Anthropic and OpenAI.
The shares, priced at US$135 each, will likely not trade until mid-session as the exchange is still collecting buy and sell orders. Offer coordinators delay the start of negotiations until there is a balance between supply and demand.
"We expect SpaceX to see an immediate jump in negotiations due to the enthusiasm around the deal, perhaps in excess of 20%," said Samuel Kerr, global director of capital markets at Mergermarket. "Anything lower would actually make me worried."
SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the Nasdaq opening bell at 10:30 a.m. (Brasília time). lower than that of other technology giants with similar market value.
"I gave SpaceX a 10% chance of being successful," Musk said in Texas, shortly before the start of trading.
The stock's performance will also serve as a test for the so-called "Musk premium", seen as a factor supporting Tesla's more than $1 trillion valuation, despite the pressures faced during the period in which the businessman was actively involved in President Donald Trump's administration.
World's largest IPO
Record public offering marks the realization of ambitions Musk's longtime partner in the space and technology sector. It also stood out for changing the dynamics of IPOs on Wall Street and attracting a large number of individual investors to the market.
With US$75 billion raised, the operation exceeded by more than twice the value obtained in Saudi Aramco's record initial public offering in 2019. This should make SpaceX the first company in the United States to debut already worth US$1 trillion, in addition to placing it as the seventh largest in the country in terms of value. market.
"Elon jokes that we do the impossible, only late," SpaceX Chief Operating Officer Gwynne Shotwell told CNBC in an interview.
The valuation could rise further if the offering's coordinators decide to sell additional shares, which typically occurs within 30 days of launch.
While SpaceX may take some time to enter the S&P 500, it is expected to be included quickly in the Nasdaq 100. This should quickly make it relevant to passive funds and ETFs that track the index, creating a new source of demand for its shares.
The inclusion should take place in about a month, following Nasdaq's new rapid entry rules, much less than the traditional deadline, which can reach up to a year.
Analysts estimate that SpaceX's debut could lead investors to reorganize their portfolios, with possible selling pressure on other large technology companies, as resources are directed to SpaceX shares. company.
US$28.5 trillion market opportunity
Despite all the enthusiasm surrounding the offering, determining the real value of SpaceX is still a difficult task.
SpaceX claims that its potential market reaches US$28.5 trillion, which it considers to be the largest in history. With leadership in the space sector - according to the company, responsible for more than four-fifths of the payloads launched into orbit in the last three years - and with revenues from Starlink, some investors see a solid basis for growth.
John Belton, portfolio manager at Gabelli Funds, said that the best comparison for SpaceX is Tesla, Musk's electric vehicle company, as both combine an already established business with ambitious plans for the future.
Shares of companies in the space sector rose in pre-market, with Intuitive Machines, Planet Labs and Satellogic registering increases between 3.3% and 4.5%.

Source: G1