Elon Musk's rocket company, SpaceX, has reportedly selected Nasdaq for its long-awaited IPO and is targeting a June 11 pricing, followed by a June 12 debut under the ticker "SPCX," according to a Reuters report released late in Friday's U.S. cash session.
Immediately after the report, odds for "SPCX" on the Polymarket bet, "What will SpaceX's public ticker be?" soared to nearly 100%.
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In April, SpaceX confidentially filed for an IPO with the SEC and is planning to disclose its prospectus as soon as next week, according to CNBC.
SpaceX's IPO could raise upwards of $75 billion for the rocket company and dwarf Saudi Aramco's $29 billion debut in 2019. The money raised would be used to fund an "insane flight rate" for the Starship rocket and to push ahead with deploying orbital data centers in low Earth orbit. The company's valuation stands at around $1.75 trillion.
The timing comes amid a broader reopening of the IPO window for AI firms, with major chatbot startups such as OpenAI and Anthropic increasingly viewed as potential second-half candidates.
Goldman's Tony Pasquariello offered additional insight on the upcoming SpaceX IPO:
In most every single client meeting that I have, the question of how the tape will absorb a series of mega IPOs comes up.
While understanding that potentially adding trillions of dollars of market cap is worth discussion, as mentioned a few times recently, I'd argue there's good reason to be optimistic here (I'm a taker of opposing views).
I'll add a few points to the running conversation here:
i. to level set, at $77tr of market cap, the US equity asset class is immense (the next closest country is China at $12tr).
ii. in 1999, 380 IPOs rolled off the assembly line; for 2026, GIR currently expects 100.
iii. asset size is one consideration, yet asset quality is another -- I remember 1999, and let's just say comprehensive asset quality didn't stand the test of time.
Wall Street is certainly hungry for IPOs after a prolonged drought. This week, we saw AI chipmaker Cerebras surge nearly 70% in its debut.
SpaceX's IPO filing could come around the 12th test flight of the Starship rocket, expected as early as next Tuesday.