On June 11, 2026, Space Exploration Technologies Corp. ("SpaceX"), the aerospace, defence, telecommunications and artificial intelligence company founded by Elon Musk in 2002, priced its initial public offering of 555,555,555 Class A common shares at US$135.00 per share, with trading on the Nasdaq Global Select Market and Nasdaq Texas under the ticker symbol "SPCX" commencing on June 12, 2026. The base offering raised approximately US$75 billion, and the joint underwriters subsequently exercised in full their 83.3 million-share overallotment option, increasing total gross proceeds to approximately US$85.7 billion (approximately C$118 billion at the announcement-date exchange rate) and ranking the offering as the largest initial public offering in history.

The offering valued SpaceX at approximately US$1.77 trillion at the IPO price and at approximately US$2.1 trillion at the close of the first trading day. The IPO was structured as a global offering with concurrent tranches in the United States, Canada, Australia, the European Union, Japan and the United Kingdom, with a 23-underwriter syndicate led by Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup and J.P. Morgan.

Post-IPO, Elon Musk holds approximately 42 percent of SpaceX's outstanding shares and 82 percent of the voting power through SpaceX's dual-class share structure. SpaceX intends to use the net proceeds for long-term initiatives including orbital artificial intelligence infrastructure supporting its xAI subsidiary, acquired in February 2026. Musk and other insiders are subject to a 366-day lock-up; other pre-IPO investors are subject to a 180-day lock-up with certain benchmark-based early-release rights.