When did SpaceX start trading and at what price?

SpaceX (Nasdaq: SPCX) priced at $135 per share on June 11, 2026 and began trading on June 12, 2026. The IPO valued SpaceX at approximately $1.75–$1.77 trillion fully diluted, making it the largest IPO in U.S. history. Roadshow demand was multiple times oversubscribed, and underwriters exercised the greenshoe option in full.

Partially. SpaceX merged with xAI in late 2025, so SPCX shareholders own the xAI/Grok stack, the Colossus 2 training cluster in Memphis, and the SpaceX-owned option to acquire Cursor (Anysphere) for $60B by end of 2026. Pure-play AI exposure still belongs to Anthropic and OpenAI, both of which filed S-1s in June 2026 but have not yet priced. SPCX is closer to a hybrid space + AI infrastructure bet.

How does SPCX compare to Anthropic and OpenAI IPOs?

SpaceX is public today at ~$1.77T. Anthropic filed a confidential S-1 on June 1, 2026 at a $965B last-round valuation. OpenAI filed June 8 at ~$852B (secondary market implies ~$908B). Both AI labs are expected to price between Q4 2026 and Q1 2027. SPCX gives you exposure now; Anthropic and OpenAI give cleaner AI exposure later but you have to wait through SEC review.

Quick Answer

SPCX Day-One Recap: SpaceX IPO at $135, $1.77T (June 12, 2026)

Q: What should I watch in SPCX's first 90 days?

Three things. First, the IPO lockup expirations — early employees and pre-IPO investors are typically locked up for 90–180 days. Second, the Cursor option — SpaceX has until December 31, 2026 to exercise its $60B option to acquire Anysphere or pay $10B for a joint AI collaboration. Third, the first public earnings report scheduled for November 2026, which will be the first hard look at Starlink, Starship, and xAI revenue split.

Published: June 12, 2026

SPCX Day-One Recap: SpaceX IPO at $135, $1.77T

The largest IPO in U.S. history priced June 11, 2026 and started trading June 12 on Nasdaq under ticker SPCX. Here is what actually happened and what to watch.

Last verified: June 12, 2026, 10:00 Tallinn time

TL;DR

Detail	Value
Ticker	SPCX (Nasdaq)
Pricing date	June 11, 2026
First trade	June 12, 2026
IPO price	$135 per share
Implied valuation	~$1.75–$1.77 trillion fully diluted
Lead underwriters	Goldman Sachs, Morgan Stanley, J.P. Morgan
Lockup	90–180 days for pre-IPO holders
First public earnings	Expected November 2026

How the pricing went

SpaceX filed its public S-1 on May 20, 2026 after an April 1 confidential draft. The roadshow ran through early June. Books closed several times oversubscribed at the top of the indicated $125–$135 range, and the deal priced at the high end on June 11.

The implied fully-diluted market cap at $135 lands at ~$1.75–$1.77 trillion depending on which share count you use. That makes SPCX the largest U.S. IPO ever by a wide margin, ahead of the previous Saudi Aramco listing on Tadawul ($1.7T at IPO in December 2019) by U.S. market standards.

What you actually own with SPCX

SpaceX is now four businesses in one ticker:

Launch services — Falcon 9, Falcon Heavy, Starship. Revenue from NASA, U.S. DoD, commercial satellite operators.
Starlink — Satellite internet. The largest revenue line. International expansion is the growth story.
xAI / Grok — Merged into SpaceX in late 2025. Includes Grok consumer subscriptions, Grok API, and the Colossus 2 training cluster in Memphis (200K H200 + B200 GPUs as of last public update).
AI option value — The $60B option to acquire Anysphere (Cursor) by December 31, 2026. If exercised, SpaceX absorbs the largest AI coding IDE. If not exercised, SpaceX pays $10B for a joint AI/coding collaboration. Either way, more AI surface.

If you only care about AI exposure, see SPCX vs Anthropic vs OpenAI: which AI IPO to buy.

What to watch in the first 90 days

1. Lockup expirations

Standard IPO lockups run 90–180 days. Expect supply overhang as employees and pre-IPO investors gain ability to sell. The 90-day window lands around mid-September 2026.

2. The Cursor decision

SpaceX has until December 31, 2026 to exercise its $60B option to acquire Anysphere. Watch for management commentary on the Q3 earnings call (November 2026). If exercised, SPCX adds ~$2B+ in ARR from Cursor and consolidates a leading AI coding IDE. If declined, the $10B collaboration payment is locked in. See SpaceX–Cursor $60B deal: what it means.

3. First public earnings (Nov 2026)

This will be the first time SPCX has to publish segmented revenue:

Launch revenue
Starlink revenue and ARPU
xAI/Grok revenue
Cost of operations
Capex against the Colossus 2 buildout

The market will reprice based on Starlink ARPU and xAI consumer-vs-enterprise mix more than on launch cadence.

4. The AI IPO comparable repricing

Anthropic filed its confidential S-1 on June 1, 2026 at $965B and OpenAI filed June 8 at ~$852B. SPCX day-one trading sets the comp for both. A strong SPCX print supports the Anthropic and OpenAI IPO windows in Q4 2026 / Q1 2027.

How SPCX trades vs xAI peers

Stock	Status	Last valuation	AI exposure
SPCX	Public June 12, 2026	$1.77T	xAI/Grok + Cursor option
Anthropic	S-1 confidential June 1	$965B	Pure-play (Claude Fable 5 / Mythos 5)
OpenAI	S-1 confidential June 8	$852B	Pure-play (GPT-5.5, ChatGPT)
GOOGL	Public	~$2.4T	Gemini 3.5 Pro, TPU v6
MSFT	Public	~$3.6T	Azure OpenAI + new MAI models
NVDA	Public	~$5.1T	Picks-and-shovels

For AI-only exposure, Anthropic is the cleaner long. SPCX is the way to get xAI exposure today.

What this means for the AI IPO window

SPCX trading well is the green light for the rest of the 2026 AI IPO calendar. The next event is the Anthropic SEC review wrapping in Q3 2026 with a likely pricing in October–November. OpenAI follows after its restructure into a PBC clears.

For the broader IPO setup, see OpenAI S-1 vs Anthropic S-1: key differences.

Bottom line

SPCX is now public at the largest IPO valuation in U.S. history. It is a hybrid space + AI bet. Pure AI exposure still requires waiting for Anthropic and OpenAI to price. The next 90 days are about lockups, the Cursor option decision, and the first segmented earnings print in November.

Sources: Forbes, SEC EDGAR, Investing.com, TradingKey, Financer (June 12, 2026).