LATEST NEWS
Updated June 12, 2026
IPO Live
SpaceX Begins Trading on Nasdaq as SPCX — $135/Share, $1.75 Trillion Valuation
Shares began trading this morning in the largest IPO in stock market history, surpassing Saudi Aramco's $29B record. Elon Musk and Gwynne Shotwell rang the opening bell in New York. The offering raised $75 billion and was heavily oversubscribed with institutional orders exceeding $10 billion.
Starship
Starship Flight 12 Completes Successful Test Launch From Starbase, Texas
The 39th Starship rocket successfully completed its 12th integrated flight test on May 22, 2026, from Starbase on South Padre Island. SpaceX says payload delivery to orbit is expected in the second half of 2026. The fully reusable vehicle is designed to carry 100 metric tons to low Earth orbit.
Starlink
Starlink Crosses 10 Million Subscribers — Posts $1.19B Quarterly Profit
Starlink, SpaceX's satellite internet division, crossed 10 million subscribers in February 2026 after doubling its base from 4.5M to 9M during 2025. The connectivity segment generated $11.39 billion in 2025 revenue — 61% of SpaceX's total — and posted its first billion-dollar quarterly profit in Q1 2026.
Finance
SpaceX xAI Merger Bundles Grok, Colossus Supercomputer Into IPO Offering
The IPO includes xAI following SpaceX's all-stock merger earlier in 2026, valued at $1.25 trillion at time of merger. The combined entity includes Grok AI, the Colossus 1 data center in Memphis, and positions SpaceX as a space-based AI infrastructure company. The xAI segment posted a $4.9B net loss in 2025.
NASA
SpaceX Crew Dragon Supports Artemis III — Moon Landing Target 2027
SpaceX's Human Landing System (HLS) — a Starship variant — will land Artemis III astronauts at the lunar south pole. NASA announced the Artemis III crew on June 9, 2026 at Johnson Space Center. SpaceX has now launched more than 40 crewed missions to the ISS and is the backbone of NASA's human spaceflight program.
Partnership
SpaceX Signs Anthropic Cloud Deal — Colossus Rents Compute to AI Lab
SpaceX is acting as a cloud provider, renting out xAI's Colossus 1 data center compute capacity to Anthropic as part of a strategic partnership. The deal highlights SpaceX's transformation from a pure launch company into a diversified space-infrastructure and AI platform company.
Defense
SpaceX Maintains Dominance in US Military Launch Contracts
SpaceX holds multi-year National Security Space Launch (NSSL) contracts with the US Space Force and continues to launch classified NRO and DoD payloads. Over 95% of SpaceX revenue comes from the private sector per the IPO filing, though government launch contracts remain strategically critical.
PRODUCTS & SERVICES
Falcon 9
Launch Vehicle
World's most reliable orbital rocket. Partially reusable — first stage booster lands and relaunches. Over 250 successful missions. The commercial backbone of SpaceX.
↑ 138+ launches in 2024
Starship
Next-Gen Vehicle
Fully reusable super-heavy launch system. 100+ metric tons to LEO. Designed for Mars missions, satellite mega-deployment, and NASA Artemis III lunar landing.
↑ Orbital payload delivery H2 2026
Starlink
Satellite Internet
Low-orbit broadband internet constellation with 6,000+ satellites. 10M+ subscribers. $165–250/mo residential, direct-to-cell capability launched 2024. Primary profit driver.
↑ $11.39B revenue in 2025 · 61% of sales
Dragon
Spacecraft
Crew and cargo spacecraft for ISS missions and commercial flights. Crew Dragon has now flown 40+ astronauts. Cargo Dragon supplies the ISS. World's most-flown crewed spacecraft.
↑ 40+ crewed missions flown
xAI / Grok
AI Platform
AI division acquired via all-stock merger in Feb 2026. Includes Grok AI assistant, Colossus 1 supercomputer in Memphis, and orbital AI data center ambitions. Rents compute to Anthropic.
↑ $1.25T merger valuation
Launch Services
Commercial & Gov
Commercial satellite launch (Transporter rideshare), government missions (NASA, NRO, Space Force), and international payloads. Has dramatically cut cost-per-kg to orbit.
↑ 95%+ private sector revenue
EXECUTIVE TEAM
🦅
Elon Musk
Founder, CEO, CTO & Board Chairman
Founded SpaceX in 2002. Will retain 82%+ voting control post-IPO. Also CEO of Tesla, xAI, and X. The driving creative and strategic force behind all SpaceX programs.
Founder · IPO Day
🚀
Gwynne Shotwell
President & Chief Operating Officer
SpaceX COO since 2008. Rang the NYSE opening bell today for the IPO. Manages day-to-day operations, government contracts, and launch campaigns. Fifth-largest Class A shareholder.
COO · Board Member
💰
Bret Johnsen
Chief Financial Officer
CFO who led the IPO process. Conducted investor Zoom calls since December 2025. Oversaw the $75B IPO raise, the largest in market history. Manages SpaceX's $29.1B debt load.
CFO · IPO Lead
🛸
Tom Mueller
Former VP of Propulsion (Advisor)
Designed the Merlin and Raptor rocket engines that power Falcon 9 and Starship. Left SpaceX in 2020 but remains an influential figure and early technical architect of the company.
Technical Advisor
🌐
Sara Sabry
VP of Starlink Business Development
Leads global expansion of Starlink — the division that accounts for 61% of SpaceX revenue. Overseeing the direct-to-cell rollout, maritime, and aviation markets. Key driver of IPO valuation.
Starlink Division
⚙️
Mark Juncosa
VP of Vehicle Engineering
Leads Starship vehicle engineering and flight hardware design. Critical role in achieving the H2 2026 orbital payload delivery target. One of Musk's closest technical lieutenants at SpaceX.
Engineering
FINANCIALS & IPO DATA
Source: SEC S-1 Filing · June 2026
| IPO Metrics | |
| IPO Share Price | $135.00 |
| Shares Offered | 555,555,555 Class A |
| Total Raised (base) | $75 billion |
| Total Raised (incl. overallotment) | Up to $86.25 billion |
| Market Capitalization | ~$1.75 trillion |
| US Market Cap Rank | #7 (above Tesla) |
| Musk Voting Control | 82%+ |
| Retail Allocation Target | 30% (vs. typical 5-10%) |
| Exchange / Ticker | Nasdaq: SPCX |
| Lead Underwriter | Goldman Sachs |
| Closing Date | June 15, 2026 |
| Revenue | |
| Total Revenue 2025 | $18.7 billion |
| Starlink Revenue 2025 | $11.39B (61% of total) |
| Q1 2026 Starlink Share | 69% of total sales |
| Starlink Subscribers | 10M+ (as of Feb 2026) |
| Starlink Q1 2026 Profit | $1.19 billion |
| Projected 2026 Revenue | $22–$24 billion (est.) |
| Losses & Debt | |
| Net Loss 2025 | -$4.94 billion |
| Q1 2026 Net Loss | -$4.28 billion |
| Net Profit ex-xAI (2024) | +$791 million |
| Total Long-term Debt | $29.1 billion |
| Bridge Loan (6-mo post-IPO) | $20 billion due |
| Accumulated Deficit (since 2002) | -$41.3 billion |
| Analyst Targets | |
| Avg. 12-Month Price Target | $165/share (+22%) |
| Wedbush (Dan Ives) Stance | Bullish · "Time is right" |
| Morningstar Fair Value Est. | ~$780B (below IPO val.) |
| Tesla Merger Probability | 56% (Wolfe Research) |
KEY MILESTONES
🚀
2002 — Founded
SpaceX Founded by Elon Musk
Established in El Segundo, California with the goal of reducing space transportation costs and enabling Mars colonization. Musk invested ~$100M of his own money from the PayPal sale.
🎯
2008 — First Orbital Success
Falcon 1 Reaches Orbit — First Private Orbital Rocket
After three consecutive failures, Falcon 1 Flight 4 became the first privately funded liquid-fueled rocket to reach orbit. SpaceX won a $1.6B NASA cargo contract days later.
🛬
2015 — Reusability Proven
First Falcon 9 Booster Landing at Cape Canaveral
Orbital class rocket booster lands propulsively for the first time in history, proving reusability. Transformed the economics of spaceflight and catalyzed SpaceX's launch dominance.
👨🚀
2020 — Crew Dragon
Crew Dragon Demo-2: First Crewed Private Orbital Launch
NASA astronauts Bob Behnken and Doug Hurley launched to the ISS from American soil for the first time since 2011. Returned US human spaceflight capability to domestic launch providers.
🛸
2023–2026 — Starship Tests
12 Starship Integrated Flight Tests — Orbital Delivery H2 2026
Iterative test program led to the first successful catches of the Super Heavy booster using the "Mechazilla" chopstick arms in 2024. Flight 12 succeeded May 22, 2026. Orbital payload delivery imminent.
📈
Feb 2026 — xAI Merger
SpaceX Merges with xAI in All-Stock Deal Valued at $1.25 Trillion
SpaceX acquires Musk's xAI company — including Grok AI and the Colossus 1 supercomputer — via an all-stock merger. Sets stage for space-based AI data center ambitions and the largest IPO in history.
🎉
June 12, 2026 — TODAY
SpaceX IPO: SPCX Begins Trading on Nasdaq at $135
Raises $75 billion — the largest IPO in market history, surpassing Saudi Aramco. Valued at $1.75 trillion, SpaceX becomes the 7th most valuable US company. Musk rings the bell at Starbase, Texas.
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